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Question 1:
‘The WTO was set up with the intention of regulating international trade between countries'. How successful has the WTO been in attaining its objectives?
Question 2:
‘Over the past three decades, regional trade agreements (RTAs) have proliferated to the point where virtually all members of the WTO belong to some form of RTA notified to the GATT, whether a customs union, a free trade agreement, or an interim agreement leading to one or the other. This development has redefined the world trade scene and represents both a challenge and a unique opportunity for the WTO:
a challenge because RTAs can result in trade and investment diversion, leading to high welfare costs for non-participants as well as for participants; an opportunity because they may create or consolidate regional dynamic forces in favour of freer trade, which can engender significant welfare benefits for participants as well as for the rest of the world'. Discuss.
S M Construction has been awarded a contract to build a new manufacturing plant just outside Cardiff. The activity on arrow table below gives data on the activities involved in the
(a) Assume that Purchase Price is equal to initial Market Value (b) Your Market Rent starts at the indicated level and increases by this factor for all of Year 2 and for each y
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Assume the firms cost function is: C(Q)= 100+10Q+Q^2 , Determine whether this industry is a natural monopoly when the demand function is: 1) D(P)= 100-3P 2) D(P)= 90-3P 3) D(P)= 10
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1. A monopolist faces the industry demand Q=400-0.5 p and has constant marginal costs of 8, with no fixed costs. a) What is the monopoly price? What is the monopoly quantity?
Explain, using the example of museum visits, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams wher
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