1. In Country Faraway, cigarettes are forbidden, so people trade cigarettes in a black market. The cigarette demand is QD = 12 − P, and the cigarette supply is Qs = 2P.

1. Find the equilibrium price and quantity in the black market.
2. The government becomes aware of the black market and reinforces the police so that half of the cigarette supply would be seized and destroyed. Under this circumstance, what are the demand and supply functions? Show the change by using a supply and demand diagram.

b) he following matrix describes the payoffs of two countries (China and the US) whenthey decide for protectionism or free trade. In each cell of the matrix, the first numberdenotes the payofffor the US and the second number denotes the payofffor China.

b1) Based on the above matrix, explain why countries might end up in a trade war without trade agreements.(3 pts)
b2) Based on the above matrix, discuss the following statement:“International trade agreements can solve the Prisoner’s dilemma that governments face when it comes to the reduction of trade barriers.”

Graphically depict, with an optimal choice diagram (isoquants and isocost lines), the shortrun and long-run input levels and total costs of producing a given level of output.

Environmental awareness all over the world in recent years has created enormous challenges as well as ample opportunities for international marketers.

Critically evaluate this emerging contemporary issue and analyze its impact for international marketers.

What sort of income support should Texas provide for needy residents? What are the consequences of reducing benefits (either the number of benefits or the length of time they may be received)? If you were presented with evidence that the social costs of welfare were actually lower than the costs associated with increased crime and urban blight, would you support increased welfare benefits?

Were you surprised to find that water is such an important policy area in Texas? How can you try to conserve water in your day-to-day activities?

type your answer

he discussion forum this week involves Business Method Patents. First, in your view, what should the standard be for a business method patent? Second, please include a discussion of whether you think that Amazon should be able to patent the One-Click method of ordering goods AND whether you think Facebook should be able to patent a process that “dynamically provides a news feed about a user of a social network.” (Note: This question is adapted from p. 684 of the textbook.)

Electronic commerce eliminates more jobs than it creates. Should we restrict its use and growth?

“For several years empirical studies have spanned the spectrum of research from software productivity, quality, reliability, performance to human computer interaction. Analyses have involved software systems ranging from desktop software to telecommunication switching systems. But surprising there has been little work done on the emerging digital game industry, one of the fastest growing domains today. To the best of our knowledge, our work is one of the first empirical analysis of a large commercially successful game system”. “In this paper, we introduce an analysis of the significant user data generated in the gaming industry by using a successful game: Project Gotham Racing 4. More specifically, due to the increasing ubiquity of constantly connected high-speed internet connections for game consoles, developers are able to collect extensive amounts of data about their games following release. The challenge now is to make sense of that data, and from it be able to make recommendations to developers. This paper presents an empirical case study analyzing the data collected from a released game over a three year period. The results of this analysis include a better understanding of the differences between long-term and short-term players, and the extent to which various options in the game are utilized. This led to recommendations for future development ways to reduce development costs and to keep new players engaged. A secondary goal for this paper is to introduce software game development as a topic of importance to the empirical software engineering community and discuss research results on a key difference area: data analytics on user data to customize user and development experiences” (Hullett, Nagappan, Schuh and Hopson, 2012)

1) What is the research approach used in this study?

2) What are the key findings from this study?

3) Who are the key people who will benefit from this study? Please use suitable examples.

4) In your opinion, what are the potential drawbacks of case study approach?

A student taking economics, statistics, and finance has decided to spend 9 hours per week studying. The objective is to maximize the average grade, which means maximizing the total grade in the three courses. The table shows the student's estimate of the relation between time spent studying each course and the grade for each course.

Based on the information in the table, what is the maximum average grade the student can earn if she studies 9 hours per week?

• 80

• 80.3

• 82

• 78.3