Q. Explain why MC cuts AC and AVC at their minimum values? Ans: Marginal cost (MC) is the extra total cost resulting from 1 extra unit of output. Average total cost resultiong is the sum of ever decling average fixed cost (AFC) and average variable cost (AVC). Average total cost stands for (AC). In the short run the costs are generally represented by a U- shaped curve that is always intersected at its minimum point by the rising MC curve. Average variable cost (AVC) equals variable cost divided
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Mercantilism and Protectionism Today Introduciton Mercantilism as one of the first and oldest economic theories‚ since political economy arose as a science‚ does not belong just to the past. Mercantilism and protectionism as its policy is very present and actively used even today. Actually‚ it has never disappeared. The mercantilists preached that countries should always strive to have a trade surplus and avoid trade deficits at all cost. That is partly because they viewed the flow of gold as central
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Part II : Protectionism Last year the rapid economic growth in China accompanied by an “open door “ policy on the part of the regime‚ can be viewed in Western nations as a source of major investment and trading opportunities. However‚ China ’s size and its political complexion can also be interpreted as a potential threat. This fear of China leads to the path of protectionist atmosphere. After a introduction about protectionism‚ the section II will show that Anti-dumping measure is a protectionist
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Free trade and protectionism Free trade: It takes place between countries when there are no barriers to trade put in place by governments or international organization. Good and services are allowed to move freely between countries Pros Cons Protecting domestic employment Protecting the economy from low cost labour Protecting an infant (sunrise) industry To avoid the risks of over-specialization Strategic reasons To prevent dumping To protect product standards To raise government revenues
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Vietnam’s decision to devalue its currency by 5 per cent last week to protect itself from undervaluation of the Chinese renminbi‚ and the worried response from Thailand and other Asian countries‚ suggests the move towards global trade conflict may already be unstoppable. As one group of countries seeks to gain or maintain trade advantage by manipulating their currencies‚ the historical precedent suggests that countries that are not able to devalue will respond with trade protection‚ especially tariffs
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retaliate against such actions. The situation can get even worse if there is a political issue between the two countries; trade might get cut off‚ an embargo might be enforced and both countries will not benefit anything at all. The problems such protectionism would bring to both developed and developing nations can be quite obvious. Restricting free trade will reduce the chances and opportunities for businesses as well as consumers all over the world. A country that is enforced an embargo suffer from
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FREE TRADE VS PROTECTIONISM The issue of Free Trade and Protectionism is one of the most important debates in International economy. According to free trade‚ they believe in opening the global market‚ with as few restrictions on trade as possible. On the other hand proponents of protectionism believe in concentrating on the welfare of the domestic economy by limiting the open-market policy. Both sides have strong view points‚ but it is important to analyze the benefits and disadvantages of free
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his trade policy does not constitute an overall breaking of the mould in US trade politics‚ rather it is merely a sustenance of the US executive succumbing to longstanding protectionist pressures domestically. In consideration of not only how protectionism is not a new development within US trade politics but also that Obama has been bound by the same domestic pressures as his predecessors‚ it may be considered surprising that Obama has been ascribed with a protectionist label that his predecessors
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none is more sharply etched in our collective imagination than the movies. Movies are key cultural artifacts that offer a window into American cultural and social history. A mixture of art‚ business‚ and popular entertainment‚ the movies provide a host of insights into Americans’ shifting ideals‚ fantasies‚ and preoccupations. Like any cultural artifact‚ the movies can be approached in a variety of ways. Cultural historians have treated movies as sociological documents that record the look and mood
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subscription information: http://www.tandfonline.com/loi/rlae20 Hollywood in Uganda: local appropriation of trans-national Englishlanguage movies Stella Achen & George Ladaah Openjuru a a a Department of Adult and Community Education‚ College of Education and External Studies‚ Makerere University‚ Kampala‚ Uganda Version of record first published: 25 Jun 2012 To cite this article: Stella Achen & George Ladaah Openjuru (2012): Hollywood in Uganda: local appropriation of trans-national English-language
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