Problem Set 4: 355 Q1) Tastes for Varieties and trade 1. p = (Qn/1000p)^-1/2 pQ = Q^1/2 (n/1000p)^-1/2 MR = MC 1/2Q^-1/2 (n/1000p)^-1/2 = 1/2 Q = 1000p/n p = (Qn/1000p0^-1/2 = 1 Zero profits in the long run means that AC = p 10/(1000/n) + 1/2 = p Since the PP curve is flat and p = 1‚ then 10/(1000/n) +1/2 = 1 n = 50 2. The market size doubles‚ but there is still no change to the PP curve [p=1] 10/(2000/n) + 1/2 = 1 n = 100 3. The only gain from trade
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Applebaum‚ Anne. "If the Japanese Can’t Build a Safe Nuclear Reactor‚ Who Can?." Writing and Reading across the Curriculum. Ed. Laurence Behrens and Leonard J. Rosen. 12th ed. Boston‚ MA: Pearson Education‚ 2012. 502-03. Print. The article starts off by recounting the natural disasters that took place in Japan a week before the article was written. She believes that thanks to the Japanese peoples’ calmness and composure after these events‚ that the nation will eventually recover‚ but one of the nuclear
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CRISES Paul Krugman‚ January 2010 As this is formally billed on this program as the Nobel lecture‚ I suppose that I’m expected to focus on the work for which I was honored with the prize. And yet … proud as I am of the work I and many others did on increasing-returns trade and economic geography‚ given what is happening in the world – and given what I’ve largely been working on these past dozen years – that work is not uppermost in my mind. Fortunately‚ there’s an out. The Nobel committee
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INTRODUCTION Fiscal policy involves the use of government spending‚ taxation and borrowing to influence both the pattern of economic activity and also the level and growth of aggregate demand‚ output and employment. The public intervention takes varies form from country to country and from time to time (Nellis & Parker‚ 2006). As a result‚ understanding the impact of fiscal policies on the market has become fundamental for a long-term company strategy. In order to define strategic goals and
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Beauty May Equal Love But Not Class A Greek goddess; born from the foam of the sea? Myth says that Cronus castrated his father‚ Uranus‚ and threw his genitalia into the sea where a woman was born. Aphrodite is the goddess of both love and beauty which‚ in her case‚ contradict each other. She was admired by an innumerable amount of gods and other goddesses and thought to be an idol to women. Aphrodite uses her appearance to her advantage by incorporating herself into multiple affairs while still
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Tiffany Smith March 20‚ 2014 GSW Recently‚ there has been a significant decrease in both employment rates and salaries among new college graduates. Rising college prices‚ increasing levels of student debt‚ and a still weak job market all contribute to the skepticism that many face when trying to determine which college degrees are valuable in today’s society‚ specifically if Liberal Art Degrees are “worth it”. People who earn Liberal Arts Degrees have less job opportunity and security than those
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he loved‚ desired‚ and believed in. Philosophy‚ the love of wisdom‚ was for Socrates itself a sacred path‚ a holy quest -- not a game to be taken lightly. He believed -- or at least said he did in the dialog Meno -- in the reincarnation of an eternal soul which contained all knowledge. We unfortunately lose touch with that knowledge at every birth‚ and so we need to be reminded of what we already know (rather than learning something new). He said that he did not teach‚ but rather served‚ like
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Retrieved on December 12‚ 2012 from http://econfix.wordpress.com/2011/10/08/as-and-a2-macroeconomics-internal-and-external-balances/ Kling‚ A. (2004). The trade balance. Retrieved on December 13‚ 2012 from http://arnoldkling.com/econ/macro/trade.html Krugman‚ P (2009). “How Did Economists Get It So Wrong?” The New York Times‚ September 2. Retrieved on December 14‚ 2012 from http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html News Release: US International Transactions. Retrieved on December 14
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intellectually‚ they are non-physical ideas that represent the most accurate reality. In some cases we call the Theory of Forms‚ Theory of Ideas. For example‚ take a perfect triangle‚ this would be a description of the Form‚ or idea‚ of a triangle. Plato states these Forms exist in an abstract state‚ we can try to draw the perfect triangle‚ but our attempts will fall short. No matter how good of an artist we are‚ our physical representation will never be perfect. Our attempts of precision will end up being
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Product life-cycle theory From Wikipedia‚ the free encyclopedia This article is an orphan‚ as no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (February 2009) The product life-cycle theory is an economic theory that was developed by Raymond Vernon in response to the failure of theHeckscher-Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product’s life-cycle all the
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