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Prior to its establishment in 1994, NAFTA had some strong opposition from several high-ranking politicians - many of whom feared the loss of American jobs to Mexico where it is much cheaper to hire workers. What are the strengths and weaknesses of such a position on NAFTA?
Illustrate the price that consumers are willing and able to pay for this output is $40 per unit. Produces this output, the firm's average total cost is $43 per unit, and its average fixed cost is $8 per unit.
Fantastic Footwear can invest in one of two different automated clicker cutters, A and B. The first cutter, A, has a $ 100 000 first cost. Another similar cutter with many extra features, B, has a $ 400 000 first cost. Cutter A will save $ 50 000 per..
A marketing firm is interested in eliciting Silvia’s tastes on a set of ten automobiles. In order to do this they ask Silvia, for each pair of alternatives (x,y), whether she finds x at least as good as y. Silvia is interested in both the reliability..
Mars Inc manufacturers M&Ms the milk chocolate comes in a variety of colors: blue brown green orange red and yellow the overall proportions for the colors are 0.24 blue, 0.13 brown, 0.20 green, 0.16 orange, 0.13 red and 0.14 yellow in a sampling stud..
The shape of Canada’s production possibilities frontier (PPF) should reflect the fact that as Canada produces more trucks and fewer cars, the opportunity cost of producing each additional truck ______
Suppose that there are no excess reserves in the banking system and the current amount of checkable deposits are equal to $100,000. Now the monetary authorities raise the required reserve ratio from 5% to 10%. The amount of excess reserves in the ban..
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 million in withdrawals from other banks’ ATM machines. On average, noncust..
Discuss the effects on this year's quantity of labor supplied,
If the market price of tilapia is $1.60 per pound but the government will not allow tilapia farmers to charge more than $1.20 per pound of tilapia, which of the following will happen?
Assume Americans currently import more than they export. Illustrate the effect of foreign- ers becoming more optimistic about their future incomes. What happens to the quantity of Americans’ net imports? What happens to American consumption? Suppose ..
Explain carefully how oligopolies can use product differentiation strategies to increase barriers to entry. Consider both brand name creation and product line proliferation strategies.
Medium household income in County C is $54,021. Medium household income in Country D is $28,739. In County C, 17.4 percent of residents smoke. In County D, 28.4 percent of residents smoke. What is the arc income elasticity of demand for tobacco use?
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