Do you agree with the George W. Bush White House conclusion that a sharp reduction in immigration would be a poorly targeted and inefficient way to assist low-wage Americans? Why or why not?

Students are required to select any firm having characters of Monopoly. Discuss the basic characteristics of monopoly and profit maximization condition. ( support with diagram)

. In 500 words or more, explain the topic. What causes stagflation and give examples of occurrences in our economy. Relate this topic to the Phillip’s Curve and demonstrate why this is a problem to traditional Keynesian thought. What would you recommend to the Fed when stagflation comes calling?

most development economists concur that the level and rate of GDP growth of and per capita income are not sufficient measures of a country's development. What is the essence of their argument

Two firms are competing in an oligopolistic industry. Firm 1, the larger of the two firms are contemplating its capacity strategy, which could be either “aggressive” or “ passive”. Firm 2, the smaller competitor, is also pondering its capacity expansion strategy and a passive strategy. The following table shows the profits associated with each pair of choices:

a. If both decide their strategies simultaneously, what is the Nash equilibrium?

b. If firm 1 could move first and credibly commit to its capacity expansion strategy, what is its optimal strategy? Draw the gram tree and show the equilibrium strategy.

Taco-bell and Rio wrap are competing in the MI market. Each firm is deciding whether to follow a high spending advertising strategy. More aggressive advertising would lead high spending on media and billboard advertising. The profits associated with each strategy are as follows:

a) Does either firm have a dominant strategy? If yes, what is the dominant strategy for each firm?

b) Does either firm have a dominated strategy? If yes, state the strategy for each firm.

c) Find the equilibrium. Is this equilibrium Nash or Dominant strategy or both?

d) Is this game an example of the prisoners’ dilemma? Explain

e) If this game changes to infinitely repetead game, will a cooperation occur? What would be the cooperated strategy? What are their expected payoffs? (assume i=5%)

Assume that the City Council in Prescott, Arizona is considering implementing price ceilings on rental units based on the number of bedrooms in the unit. The demand function for rental units (on a single bedroom equivalent basis) is given by QD = 120 – 4P and the supply function is given by QS = 2P, where P is price and Q is quantity. The Council is considering imposing a ceiling price on rental units of Pmax = 16.

1) Are consumers of rental-housing in Prescott well-served by this price ceiling policy? Provide a careful economic analysis in support of your claim. In particular, discuss what happens if a regulated price is set that is not equal to the equilibrium price.

Compare and contrast the “De Jure” and “De facto” political power.

“It can be argued that much of the economic backwardness in the world can be explained by the lack of mutual confidence”.

4. Use resource allocation models and explain the relationship between resource allocation models and the product life cycle.

** I am ok with simple answer 4-5 line **

“If there are no transaction costs, then an efficient outcome can be achieved in the presence of an externality if the government completely allocates tradable property rights over the externality generating activity. Furthermore, the final outcome will be invariant to the specific initial allocation of property rights that is chosen by the government.” Is this claim true, false or ambiguous? Justify your answer. (Please write as much as you can)

what proportion of the Texas budget consists of federal funds? How might the presence of this federal money affect the relationship between the state and federal governments?

Building the Supply and Demand Model Homework

1. Explain the difference between a change in the quantity demanded (Q_d) and demand (D).

A change in quantity demanded refers to a movement along the demand curve, which is caused only by a chance in price. A change in demand means that the entire demand curve shifts either left or right.

2. Explain the difference between a change in the quantity supplied (Q_s) and supply (S).

A change in quantity supplied will imply a movement along the supply curve, while a change in supply refers to a shift in the supply curve. A change in quantity supplied is usually caused by a change in the unit price while a change in supply is caused by new methods of production.

3.

A. Using the individual demand data in the table above, determine the market demand for broccoli soup – fill in the market demand column of the table.

B. Graph the market demand curve.

C. The broccoli growers industry group launches a successful national marketing campaign highlighting the positive health effects of broccoli consumption. What will likely happen to the market demand for broccoli? Demonstrate your answer in the graph you drew for B.

4. Give 3 real world scenarios that would likely increase the demand for chickpeas.

5. Give 3 real work scenarios that would likely decrease the supply of Atlantic salmon.

6. Draw hypothetical supply and demand curves for coffee. Show how the equilibrium price and quantity will be affected by the following events. Use a separate graph to demonstrate each event. Show the equilibrium price and quantity before, and after, the event.

A. The New England Journal of Medicine publishes an article highlighting a direct correlation between coffee consumption and liver cancer.

B. The coffee growing regions of South and Central America experience optimal coffee growing weather.

C. A regional war breaks out in the coffee growing countries of East Africa.

D. Widespread media reports highlight major labor abuses in coffee growing regions around the world, including child labor, slave labor, and the widespread sexual assault of coffee plantation workers.

7. President Trump signs a law that imposes a 30% tax on oil exports from the United States.

A. Demonstrate the likely effect on the domestic oil market using supply and demand curves.

B. What we will be the likely effect on oil prices in the US?

8. Assume the individual demand and supply below represent the entire market. Answer the questions based on the following tables.

A. Draw the market demand and market supply curves.

B. Label the market equilibrium price and quantity.

C. What is the excess quantity supplied at a price of $250?

D. What is the excess quantity demanded at a price of $150?

9. Explain the likely affect of the following events on the market equilibrium price and quantity:

A. Global soybean market: An infestation of the Helicoverpa armigera worm in Brazil’s soybean growing regions. Brazil is the world’s largest producer of soybeans.

B. Global toy market: A 105% increase in the minimum wage in China. China is the world’s largest manufacturer of toys.

C. Global pineapple market: Both PepsiCo and the Coca Cola company develop blockbuster pineapple flavored sodas.

D. US energy drink market: Congress imposes a 25% excise tax on energy drinks due to the adverse health effects of excessive caffeine consumption. The excise tax will be paid by the manufacturers of the drinks.

E. Local Sinha Stout (popular Sri Lankan beer) market in Poughkeepsie: Four thousand Sri Lankan immigrants settle in the city of Poughkeepsie.

F. Horn rimmed glasses local market Hyde Park: Hyde Park becomes a popular location for weekend homes for Brooklyn hipsters.

G. Fuji apple market: The price of red delicious apples increases by 67%.

H. Chef’s knife market: The demand for culinary education increases dramatically.

J. Kiwi market: Kiwi sellers raise the price of kiwis by 29%. There are no other changes in the market.

K. Wheat market: A new technology significantly increases planting productivity.

Recent efforts by the government of Ghana to improve the railway sector can be described as old wine in a new bottle. Discuss