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1. How does consumer and producer surplus describe efficient markets in terms of allocation of goods and services?
2. International trade and trade agreements seem to be a big issue for the upcoming presidential election this November. Are we better off with free trade? Why or Why not?
3. Externalities are a form of market failure. What are positive and negative externalities? Explain by providing examples.
4. Define and give an example of a public good. Can the private market provide this good on its own? Explain.
The market for Good Y, a perfectly competitive good, is made up of 15 producers who each produce the same amount of Good Y. If the price of Good Y is currently $100 and the total quantity supplied is 150, how many units of Good Y is each producer ..
If CS knew JL were going to build 100 units of capacity, how much would CS want to build If CS knew JL were going to build x units of capacity, how much would CS want to build (that is, what is CSís best response function in capacity)
Learners are to research the current value and the expected future changes in the following economic indicators:
suppose that in a competitive market for electric power demanded for power is given by the equation p600-q and supply
A town has a bakery that sells bread and a cheese shop. It costs $1 to make a loaf of bread and $2 to make a pound of cheese. If the bakery's price for a loaf of bread is p1 and the cheese shop's price for a pound of cheese is p2.
The drought in Oklahoma is causing cattlemen to sell off their cattle herds. How does this affect the supply of beef How does it affect the demand for beef worldwide How does it affect the demand for chicken
Analyse and evaluate the argument presented in the article and the methodology used by the authors to examine the effects of inward FDI on local productivity. How far do their conclusions confirm or change any prior views you might have had based ..
Mark quits his job as a company financial officer
Illustrate what price per ride must the public transportation authority charge to eliminate the deficit if it cannot reduce costs.
What are the main goods and services the United States traded internationally? What trade barriers were in place during that decade? What are two pros and two cons of the trade barriers used?
Explain how the Central Bank can set the nominal interest rate in the money market. In addition, explain how it can use expansionary monetary policy to boost GDP if the economy is in a recession.
Some people have suggested that forced population control is an efficient means of decreasing the Tragedy of Commons associated with our clean air and water resources.
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