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If governments make trade policies based on national economic welfare, is the problem of trade warfare still represented by a Prisoner's dilemma game as in Table 10-3? What is the equilibrium solution to the game if governments formulate policy in this way? Would they ever choose the strategy of protectionism?
1. what is the GDP 2. what is the net domestic product 3. what is the national income 4. if real GDP in a particular year is $80 billion and nominal GDP is $240billion , what is the GDP price index for that year
What happens to the unemployment rate?
A friend of yours is considering two cell phone service providers. Provider A charges $120 per month for the service regardless of the number of phone calls made. Provider B does not have a fixed service fee
Sales have grown over this period with relatively few shocks due to uncontrollable weather, political and sporting events. This online retailer carries no inventories; when it receives a pre-paid on-line order from a customer.
Consider the production function Q= 20K1/2L1/2 The firm operates in the short run with 16 units of capital.Using the marginal product (MP) function derived in part c, the marginal product is _____ when 160 units are produced.
Calculate monopoly output, price, and maximum profit when the market demand curve is QD = 20 - 2p, MC = 4Q, and TC = 2Q2. If a new innovation enables the monopoly to cut its costs by 50%, but it costs $50 to adopt this innovation.
what would a 1,500,000-pound-per-year plant cost now Suppose that the construction cost index has increased an average rate of 12 percent per year for the past eight years and that the cost-capacity factor (x) to reflect the economy of scale is 0...
The film itself will provide a broad background for your understanding of these issues; however, the most compelling responses will go beyond the film to incorporate additional recent data sources to justify your reasoning and logic.
Had to ask again as other answer didn't make sense...Commercial Recording, Inc., is a manufacturer and distributor of reel-to-reel recording decks for commercial recording studios. Revenue and cost relations are: TR = $3,000Q - $0.5Q2.
Assume that total output is determined by the formula: number of workers × productivity = total output (output per worker) If an economy's productivity increases by 5 percent but the number of workers declines by 3 percent a year
Assume the company orders printer paper in truckloads of 10,000 boxes every 3 weeks. They pay $20.00 per unit and it costs $200 to place the physical order. In addition, the cost of capital is 20% per year and the annual holding cost
The following are the demand and total cost schedules for Company Town Water, a local monopoly: Output in Gallons Price per Gallon Total Cost 50,000 $0.28 $6,000 100,000 0.26 15,000 150,000 0.22 22,000 200,000 0.20 32,000 250,000 0.16 46,000 300,0..
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