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- Here is the rest of the question, thank you There is a range of prices, Pc/Ps in which Home and Foreign will specialize? Show this range in your graph. Call it range E. What levels of Pc/Ps would these countries not produce any coffee at? Label this range H in the graph. Why? Add a relative demand curve to your diagram if Dc/Ds= 1/[Pc/Ps]. That is the relative demand of coffee is the inverse of the relative price of coffee. Label the demand curve you derive RD. Does the equilibrium of RD and RS produce gains from trade for both countries, Home and Foreign? Explain.What is a carry trade?Hula Products has reintroduced the hula hoop to the world and faces a growing demand for its product in two distinct markets: the United States and Europe. Demand in these markets is: PU = 20 - .1QU and PE = 10 - .05QE., where all quantities are expressed in thousands of units (i.e. QU = 50 means 50 thousand units). Hula can produce hoops at no cost. The maximum Hula can produce is 80 thousand hoops. How many should be sent to Europe (QE)? Enter as a value (answer should be between zero and 80).
- What will be the quantity demanded by country 1 from the rest of the world at a price of $5?When did Price-Fixing start in the Philippines? When did it stop and what act or law stopped it. Give companies in the Philippines that were fined for price-fixing.Explain why economist usually oppose controls on prices.
- Exploration and the discovery of new places led Europeans to colonize these areas. How is this related tothe economic ideas of supply and demand?Europeans took control of the areas that had the raw materials they needed.The population of the colonized areas increased as a result of European contact.A barter system developed between Europeans and the new areas.The Europeans supplied the agricultural products the new areas needed.Consider a city with the following characteristics: i. Price elasticity of city’s output (export good) is -3.0. ii. The elasticity of labor supply with respect to environmental quality is 0.10. iii. If output changes by x% labor demand changes by x%. Suppose that the city adopts a new environmental policy that increases the city’s environmental quality by 10% and increases the price of the city’s export good by 2%. a. By what percentage will the demand for labor change (shift)? b. By what percentage will the supply for labor change (shift)? c. Under what conditions (what values of the relevant elasticities) will the equilibrium number of workers increase? Illustrate your answer with a graph.Consider the following statement. VIRGO HODLER: “Bitcoin’s price will keep going up because there is a fixed quantity of Bitcoin that can be mined, and therefore supply is fixed . All of you who are into gold and silver bullion are cringe. #Poggers!” What is the main economic problem with Virgo Hodler’s argument? (A) Demand also factors into price. (B) Even if quantity is fixed, market supply can fluctuate. (C) Ad Hominem. (D) A and B.
- What is the most common way to measure the current size and marketpotential of a country?Without trade, consumer surplus isSuppose an oil embargo results, and 30% reduction in the supply of gasoline in the US and the price of electricity of demand for gasoline in the US is $.50 for the suppose the pre-embargo price of gasoline is 150 per gallon. . What is the price of gasoline will be.
