4. Al and bert each own gidgets producing firms, in a duopoly market. The gidgets produced by Al and Bert are identical and both the firms have identical costs.

These are the demand and cost conditions

Demand: P=248-4Qt=248-4QA-4Qb

Cost: ATCA=ATCB=MCa=MCb=$8

a. assume first that al and bert come to an agreement and collude to form a profit maximizing cartel. the firms split the output and profits equally. Find cartel output, and profits.

Cartel output=_____ Price=_____ Firm output=_____ Firm profits=______

b. Now assume the cartel splits up and al and bert start a price war. Now find price, output and profits

Price=_____ Total output=_____ Firm output=_____ Firm profits=_____

c. Al and bert come to their senses somewhat and decide to conduct their competition over quantity instead. (Cournot) Find price. output and profits.

Price=_____ Total output=_____ Firm output=_____ Firm profits=_____

d. compare the profits that they earn when they compete as Cournot rivals in part c, with their profits if they cooperate (part a). of course they are better off cooperating. But the problem is both firms have an incentive to cheat (renege) on the deal. Use the reaction functions you constructed for part c to find the profit maximizing output for one of the firms (the cheater) is the other (the victim) sticks with the agreed output and then find the price and respective profits.

Cheaters output=_____ total output=_____ price=____ cheaters profits=_____ victims profit=_____

e. now use the information to create a payoff table.

Consider two countries in a fictional world economy: Rivia, where the currency is the Gulden, and Cintra, where the currency is the Ducat.

a) Graph the foreign exchange market for the Rivian Gulden, label the supply and demand curves, and identify the equilibrium by the point A. We’ll leave numbers out of this question, so label the equilibrium exchange rate e1* and the equilibrium quantity of Gulden as Q1*.

b) If there is a large increase in world demand for Rivian metal-craft products, show what will happen in the foreign exchange market for the Rivian Gulden (e.g. do any curves shift?). Identify any new equilibrium with point B.

c) Continuing from part b, suppose that concerns of a potential conflict between Rivia and a neighbouring country (Lyria) lower the expected future exchange rate for the Gulden. Add to your graph from parts a & b above to show what happens in the foreign exchange market for the Rivian Gulden (any curve shifts? explain.), identify any new equilibrium with point C, and label the equilibrium exchange rate e2*.

d) How does the equilibrium exchange rate in part c compare with the equilibrium exchange rate in part a? (e.g. higher, lower, same, ambiguous).

The legitimacy of the Chinese government and its economic growth

Based on international standard both China and Singapore are considered as in authoritarian regime, simply saying individual freedoms are subordinate to the state, and there is no constitutional accountability. However, both of them achieved the economic success world-widely speaking. Singapore economy is one of the most stable in the world, with no foreign debt, high government revenue and a consistently positive surplus. China on the other hand, had become second largest economy in the world and was enjoying a very high growth rate of economy, but steadily growth of economy up until 2010 when it started slowed down after.

Question:

A) Why would a slowing growth economy be considered as a threat to the legitimacy of the Chinese Communist Party? (200-300 words)

B) Why did Chinese Communist Party look to Singapore for inspiration of ruling and developing economy? (200-300 words)

How far has the United States transformed itself in time in dealing with the subjects/topics covered in Chapter 5: Civil Rights. Is the U.S. on the 'right or wrong track' and support your argument as to how you reached that conclusion.

Introduction about Coca-cola.

Vision and mission of Coca-cola with the explanation.

Expected future price of Coca-cola.

impact of economic on Coca-cola with a graph.

Analyse of coca-cola competitor (Pepsi) need to provide a graph of Coca-Cola and Pepsi, price and quantity

All information must be about Coca-cola in the united states.

(when explaining focus more on the economy of the company)

(50 marks )

At least 8 pages

The health authorities are considering the treatment alternatives for three types of diseases: heart disease, cancer, and infectious disease. Each year there are 10,000 new cases of heart disease, 10,000 new cases of cancer, and 5,000 new cases of infectious disease. For each diagnosis, there are a number of mutually independent treatment alternatives (including no treatment) as shown in the following table.

a) identify all dominant treatment alternatives. Explain why each is dominant

b) Calculate the incremental cost, incremental QALY's, and ICERs for all economically rational strategies (ICER= incremental cost / incremental QALYs). Why are these considered economically rational?

c) using separate graphs for heart disease, cancer, and infectious disease, show the alternative treatment options, label the dominant options, and show the economically feasible alternatives. (Place QALYs on the vertical axis and cost per treatment on the horizontal axis)

d) the local health district has asked your opinion on the "best" strategy from a public health perspective (disease covered, treatment strategy). What do you tell them? How much will it cost?

Assume that in country A, the unit labor requirement for producing good X is 100 hours, and the unit labor requirement for good Y is 20 hours. Meanwhile in country B, the unit labor requirement for producing good X is 80 hours and the unit labor requirement for good Y is 40 hours. Draw a Production possibilities curve for both countries (2 graphs, one for each country), given the above data. Show and explain how international trade could leave both countries better off than without any trade. Explain.

1. Suppose the price of notebooks rises from $2 to $3 and the quantity demanded falls from 100 to 60. What is the change in total revenue for the firms producing notebooks? How can your answer to this help determine whether the demand for notebooks is elastic or inelastic?
2. As more time passes, the price elasticity of supply becomes more _______________ and                                                                                                  (elastic/inelastic)

3. the supply curve becomes _______________.

                                             (steeper/flatter)

Consider a policy proposal to impose more stringent controls on automobile tailpipe exhausts. What are the explicit and implicit costs of this proposal? Support your discussion with specific examples of each. Of the two approaches to cost estimation, which in your view likely produces the most reliable estimates? Why?

1. Graph the Average Cost and the Marginal Cost for three different levels of Fixed Cost: $0, $5,000, and $10,000.
2. Assuming that the firm is a Price Taker in the product market (that is, it can sell as many units as it wants without affecting the market price), compute the minimum price that would make production profitable when Fixed Costs are $0, $5,000, and $10,000.

Provide both your answer and a brief explanation.

The price elasticity of demand for imported whiskey is estimated to be −0.70 over a wide interval of prices. The federal government decides to raise the import tariff on foreign whiskey, causing its price to rise by 20 percent.

a. Will the quantity demanded on imported whiskey rise or fall, and by what percentage amount?

b. What is the percentage change in the total revenue of imported whisky after the tariff increases?

c. What will be the impact on domestic whisky demand after the tariff increases?

Consider the following table in which 500 respondents are classified based on product use and income:

1. Does this table indicate concomitant variation between product use and income?

2. Based on the table, describe the variation between product use and income.

3. What product could you consider it to be, based on your conclusions and analysis?

Suppose that in 2011, potential GDP for BloomJack Island is $85,000, real GDP is $75,000, and potential GDP grows at a rate of 2% per year.

1. If real GDP is $78,000 in 2012, using Okun's law, calculate the cyclical rate of unemployment.
2. If real GDP is $83,000 in 2013, using Okun's law, calculate the cyclical rate of unemployment.
3. Sketch a curve to represent Okun’s law, depicting the two points calculated in parts a and b.