What are Russia’s economic strengths and challenges? minimum 2 paragraphs please

Explain Diminishing Marginal Returns. How does that relate to Capital (K)? How does this explain why smaller countries grow faster than bigger countries.

a. Draw a graph showing the relationship between GDP and Capital (K).

Who is Baulmol and what is his theory?

Please explain in a simple and understandable manner.

How would you expect India’s export orientation policy of recent decades to have affected the economic welfare of (i) China, (ii) the US

2. Price-discriminating firms charge higher prices to those who

• have greater incomes.

• have higher price elasticities of demand compared to others.

• have more inelastic demand.

• have many substitutes available to them.

• 3. Two customers, Fred and Lamont, walk into a Grady’s Used Pickups. Who probably has a more inelastic demand for one of Grady’s pickups: people like Lamont, who are good at shopping around, or people like Fred, who know what they like and just buy it?

• People like Fred

• People like Lamont

• 4. Where will you see more price discrimination: In monopoly-type markets with just a few firms or in competitive markets with many firms?

• Competitive markets

• Monopoly-type markets

• 5. Consider two groups of people who shop at the same Wal-Mart: the Convenience Shoppers and the Bargain Shoppers. Which of the following statements is most likely to be true?

• Wal-Mart is more likely to have monopoly power over Bargain Shoppers because this group is more likely to splurge on something on a whim rather than stick to their prearranged shopping list.

• Wal-Mart is more likely to have monopoly power over Bargain Shoppers because this group is more likely to stick to their prearranged shopping list rather than splurging on something on a whim.

• Wal-Mart is more likely to have monopoly power over Convenience Shoppers because this group is more likely to stick to their prearranged shopping list rather than splurging on something on a whim.

• Wal-Mart is more likely to have monopoly power over Convenience Shoppers because this group is more likely to splurge on something on a whim rather than stick to their prearranged shopping list.

• 6. When will a monopoly create more output: When the government bans price discrimination or when the monopoly is allowed to and can perfectly price discriminate?

• Monopoly-type markets

• Competitive markets

Detail the evolution of the European Common market, the European Union, and the euro currency from the end of WWII until the beginning of the Eurozone Crisis.

Chapter 13

1) Describe the general types of barriers.

2) Competition keeps prices lower for consumers. So why do we have patent laws?

3) What is the relationship between the marginal revenue curve and the demand curve for a single-price monopolist?

Lottery – Let $1,000 be your current wealth. There are 100 people and each buys a lottery ticket at $5. The administrative cost of the lottery ticket per person is $5. If you win the lottery, you will get $500. There is only one person who can win the lottery. (The cost is 5+5 not 5)

a. Define the gamble

b. Calculate the expected value of the gamble

c. Is this gamble favorable, fair, or unfavorable?

d. Now, suppose your utility function is ? = ?5/2 . Calculate the Certainty Equivalent and the risk premium for individual willing to buy the lottery (i.e., minimum amount of money he/she needs to receive to forgo the lottery)?.

e. Now suppose that there are only 50 individuals participating in the lottery. Without calculating all the math again, what happens to risk premium? Does it increase, decrease, or stay the same?

A new rail car costs $100,000 and is expected to last for twenty years, assuming that $20,000 is spent on a major overhaul at the end of year 10. Routine servicing and maintenance are expected to cost $2,000 per year. The car is expected to be used in revenue service for 300 days per year. What is the equivalent cost per-day-in-use over the twenty-year life of the car, assuming a discount rate of 6%, 8%, 10%

1. Location:  Discuss the impact and effectiveness outdoor advertising has on YOU
based whether the billboard is on the top of buildings on the side of buildings, buses, trains, and trucks or it is a large poster at bus stops, subway stations, and train platforms or above the seats on buses and trains or at sports stadiums and arenas.
Minimum 50 words.

2. Transit Advertising: Based on you experience discuss the effectiveness of bus and train advertisements.
Explain why you feel transit advertising is an effective or ineffective form of advertising.
Minimum 50 words.

3. Attention, Interest, Desire, Action (A.I.D.A.) :
Explain what it would take for a billboard to grab your attention. Once a billboard grabs your attention what will it take to get you interested?
In terms of your purchase decision process, what would result in you purchasing the product or service advertised on the billboard. Minimum 100 words.

Show that buying and selling price are always equal, for a decision maker who has a linear utility function.

Use the model of complex integration strategies to analyze how might the passage of the NAFTA agreement between the U.S. and Mexico might have resulted in more multinational production from Japan in both countries.

Cross Border Mergers and Acquisitions: Consider a world with two countries H and F. There are MH firms in H and MF firms in F. The distribution of productivity across firms is described by the function G(??). There is a fixed cost f of opening a new plant and trade cost is given by ??>1. Brands are viewed as of equal quality in consumers minds. Finally, let VF be the price of a “used” plant on the merger market in country F.

What is price elasticity of demand? What are the determinants of price elasticity of demand. How does the concept of elasticity help in decision making and price setting. Provide examples to substantiate your responses and also cite the source of your information.