2 Give an example of a healthcare circumstance in which both public and private regulation are present. Which serves the consumers better and why?

3 Assuming you are the manager of a company, how could you use behavioral economics to increase the number of insured employees in your firm?

What are the critical aspects of designing a good experiment? Discuss briefly.

a) If a data set outcome of an experiment does not support the theoretical model, can we say the theoretical model is wrong? Discuss what would you double check in the design of the experiment?

a) If a data set outcome of an experiment supports the theoretical model, can we say the theoretical model is confirmed? Discuss what would you double check in the design of the experiment.

1a.Discuss the impact of international trade on the incomes or reward of factors in the international trade

b.Do you agree on the statement?" a difference in factors endowment will cause the production of two nations to be shaped differently" .Explain your answer

c.Using relevant examples explain how economies of scale can affect international trade

14) According to the quantity theory of money (MV=PQ), how lowering interest rates by the CB affect prices?

Cyclone Debbie leaves a sour taste for sugar cane growers. Cyclone Debbie crossed the coast near the Whitsunday islands in March 28, 2017 and tore a path from Bowen in QLD down to Northern New South Wales bringing 260 kph winds, torrential rains and flooding. The storm caused a total of $3.5 billion in damage. The cost to Queensland’s sugar industry, in destroyed cane infrastructure and equipment was $250 million. Cane growers Queensland chairman Paul Schembri said 125,000ha of cane farms from Bowen to south of Mackay were severely damaged. Sugar production volume loss on average was 20 to 25% from the three regions of Burdekin, Proserpine and Mackay that produce 50% of Australia’s national sugar cane crop. The losses would also far exceed that for many individual cane farms in the most severely affected locations. The cyclone disrupted production methods. Most sugar cane is mechanically harvested whilst still green and the canes are standing upright. However, the cyclone winds caused damage to farm structures and bent and flattened the canes. Torrential rains then flooded the fields and farm tracks with debris. Sprawled crops make mechanical harvesting difficult. After the damaged cane dries out and fine weather returns, the green leaves at the top turn toward the sun to try to stand up again but the cane stick itself often remains flattened and bent on the ground. There is a risk of damage to mechanical harvesters from cane in that condition and excessive leaf and other unseen debris in the fields. The smaller crop yields less tonnes to spread costs over and even where mechanical harvesters can still be used, the excessive leaf and other debris in the fields slows harvesting time down, increasing costs further. Many cane growers resorted to burning the flattened cane in the fields of excess leaf and debris, to salvage some harvest, a method not used for decades. This is a more labour intensive method of harvesting. Cyclone Debbie’s timing was not good for sugar cane growers. The cane was nowhere near its traditional harvest time (December) so couldn’t be harvested early. The best some farmers hoped for was that the cane ‘would straighten itself up’. In addition, the global sugar price had been above US $22 cents in 2016 but had fallen to between U.S. $12 cents and U.S. $13 cents per pound by August 2017, after trader realisations that a global surplus was emerging. One bank analyst linked sugar prices to the oil price, which had been under downward pressure for two years. This then put pressure on the ethanol price in Brazil, forcing Brazilian sugar mills to reduce ethanol production and increase sugar production. Good weather also prevailed in South East Asian cane growing nations contributing to the emerging global surplus. The price fall was further exaggerated by speculators who were selling on the market. Some cane growers may not have suffered the price fall as badly as others if they had secured earlier more favourable forward pricing contracts over their crop. Australian cane growers claimed that the price was approaching “cost of production” even without the cleanup and damage costs caused by Cyclone Debbie. Growers were forced to search hard for cost cuts such as reducing the nutrient or irrigation or maintenance inputs despite knowing such cuts would impair next year’s product quality. The Indian Government then declared subsidies for its sugar industry in September 2017, indicating further increases in global production, causing the global price to fall below the cost of production. The Australian sugar industry receives no government price support and 80% of Australian sugar is exported, so the industry is trade exposed to global sugar market price volatility. Cane growers Proserpine manager Mike Porter said growers just had to follow the appropriate steps; “There is nothing else you can do. This is an export industry, so we are captured by both the international commodity price and the exchange rate. We don’t have control over either fundamentals.” One Queensland cane grower estimated his loss at $400,00 - $500,000 in 2017 on the back of the cyclone, global sugar glut and subsequent very dry conditions through 2017 and 2018, claiming recovery would take him five years. However, for many farms total recovery may never be possible, leaving them vulnerable to future climate events.

5.1 What market structure most appropriately describes the sugar cane growing industry?

5.2 Explain what the likely short run effect of the cyclone is on the cost curves of a sugar cane growing firm in the cyclone affected region?

5.3 Explain using the relevant market structure model, the likely short run effect of the cyclone on the profits and quantities produced by sugar cane growing farms in the cyclone affected region

5.4 What is the long term response in the industry to the existence of economic losses, economic profits or normal profit? How will the changes from Q.5.2 and Q.5.3 affect the firm’s profit position in both the short run and long run?

1.

The purchasing power parity predicts that if the price level in the US falls relative to Mexico,

2.

A widget costs $50 in the US and CAD$53 in Canada. The current exchange rate is 1USD=1.09CAD. At this rate,

3.

A weaker peso, relative to the US dollar, causes the demand for Mexican exports to_______ and US imports to ________

4.

John wants to buy a new television set. He can either buy it in the US and pay $1200 or buy it in Canada and pay CAD$1300. At the exchange rate of 1CA$=US$0.92, ignoring any other costs, he would

5.

​ Currency devaluations hurt consumers because they make imports ________ expensive

6.

Purchasing power parity suggests that

Q- What are the main reasons for the Ottoman State to lag behind its European rivals in terms of technology and financial structure?
Note: The answer should be in simple language and it must not exceed 100 words.

Another reason why that New Keynesian argue that wages are less flexible downward is the idea of an efficiency wage. This is the theory that firms may choose to pay workers a higher wage than what the market would normally dictate to get workers to work hard and have a higher level of productivity. They would argue along with that a cut in wages for all workers would reduce their productivity, because the wage cut would anger workers who would then have less an incentive to be efficient. So firms may view it as more efficient to cut cost by laying off workers instead of cutting wages. What do you think?

Respond to the following in a minimum of 175 words:

Can government intervention in markets sometimes make the situation worse? Provide examples in your response. For example, consider the progress of the economy of Venezuela since 2000.

Royersford Knitting Mills, Ltd., sells a line of women’s knit underwear. The firm now sells about 20,000 pairs a year at an average price of $30 each. Fixed costs amount to $180,000, and total variable costs equal $360,000. The production department has estimated that a 10 percent increase in output would not affect fixed costs but would reduce average variable cost by 40 cents.

The marketing department advocates a price reduction of 5 percent to increase sales, total revenues, and profits. The arc elasticity of demand with respect to prices is estimated at −2.

The proposal to cut prices by 5 percent would   total revenues from $600,000 to

. Total costs would be

and total profits would be

.

If average variable costs are assumed to remain constant over a 10 percent increase in output, total profits after a 5 percent price cut would be

.

Q1

The demand and supply schedules for maize in a free market are as follows.

(a) What is the equilibrium price?

(b) If the maize sellers set their price at $144 per tonne, what would be the effect on maize stocks and what would be the resulting reaction of sellers?

(c) If the sellers started selling the maize at $80 per tonne, what would be the effect in this case?

(d) How can equilibrium be restored in this market?

Suppose that cohort quality of immigrants is increasing over time, and that return migration is positively selected from the original migrant pool. Explain the two problems this creates for correctly estimating immigrant assimilation.

Two insulation thickness alternatives have been proposed for a process steam line subject to severe weather conditions. One alternative must be selected. Estimated savings in heat loss and installation cost are given below:

a.) Useful lives of both alternatives are 6 years. Which thickness would you recommend for a MARR= 9% per year and negligible market (salvage) values using Annual Worth Analysis?

b.) Useful life of 2 cm Thickness alternative is 6 years and useful life of 5 cm thickness alternative is 9 years. Which thickness would you recommend for a MARR= 9% per year and negligible market (salvage) values using Annual Worth Analysis? (Use repeatability assumption)

in excel both questions

Assume final goods produced in country AAA in 2017,2018,and 2019 and  their prices are shown as follows:  

1. Calculate nominal GDP in years 2017, 2018, and 2019.
2. Calculate Real GDP for years 2017,2018, and 2019 using Year 2017 as the base year.
3. Using the real GDP figures calculated in (b) above, calculate annual growth rate of output for years 2018 and 2019.
4. Calculate GDP deflator for years 2017I to 2019 using Year 2017 as the base year.
5. Calculate CPI price index for years 2017 to 2019 using Year 2017 as the base year.
6. Calculate inflation rate for years 2018 and 2019 using both GDP deflators and CPI indexes calculated in parts (d) and (e).

4. You are given the following cost functions:

TC= 100+ 60Q- 3Q² + 0.1Q³

TC= 100+ 60Q+ 3Q²

TC= 100+ 60Q

a. Compute the average variable cost, average cost, and marginal cost for each function. Plot them on a graph.

b. In each case, indicate the point at which diminishing returns occur. Also indicate the point of maximum cost efficiency (i.e., the point of minimum average cost).

c. For each function, discuss the relationship between marginal cost and average variable cost and between marginal cost and average cost. Also, discuss the relationship between average variable cost and average cost.

PLEASE EXPLAIN EVERY STEP WITH DETAIL