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“Once we recognize that product differentiation is the basis for much international trade, there are likely to be more winners and fewer losers in a country when the country shifts from no trade to free trade.” There may be several reasons why this statement is true. What are the reasons?
What is the main difference between a competitive firm and a monopoly firm?
The US government decides to reduce the government budget deficit by increasing taxes and keeping government expenditures at the existing level. What are the effects of increasing taxes in the short and medium run for the US economy? Is it possible t..
Which of the following tools has not yet been used to constrain growth in hospital costs? Economies of scale. Payments to hospitals from private insurers can be characterized as having reached which stage of a typical financial reimbursement cycle? ..
Draw a production possibilities curve for time. On one axis put sleep time and on the other put awake time. You have 24 hours available in a given day. Indicate the combination that describes your allocation today. Also indicate a combination that is..
Suppose that for a particular economy and period, investment was equal to 100, government expenditure was equal to 75, net taxes were fixed at 100, and consumption (C) was given by the consumption function: C=25 + 0.8YD where YD is disposable income ..
Suppose Chen has demand Q = 40 – 2P for streetlights and Abby has the demand Q = 10 – (1/2)P for streetlights. The cost of building each streetlight is $19. How many streetlights are socially optimal? Compare this socially optimal quantity with the q..
Considering that the beekeeper gets that amount, what range of payments will the farmer admit.
Cournot Duopoly). Suppose there are two firms, Firm 1 and Firm 2 in a market. Each firm simultaneously chooses a quantity of output to produce (q1 and q2). Total market output is given by Q = q1 + q2. What is the deadweight loss in this market?
Since 1996, the Federal Communications Commission (FCC) implemented “local number portability” rules allowing cellular phone consumers to switch cellular providers within the same geographic area and maintain the same phone number.
q1. using the formula for beta1 and beta0 show what will happen to the estimator of the slope and intercept in the slr
Economists use the term capital to describe that factor of production that includes human-made resources such as factories, buildings, machinery and tools. A change in the price of hamburgers will shift the supply curve for hot dogs. If the price of ..
Explain what caused the Great Recession of 2008 and then assess the fiscal policy responses of the federal government and the monetary policy responses of the Federal Reserve
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