Consider the graph representing the domestic supply and demand for steel and the world supply for steel for the country of Kansarado. Suppose Kansarado has free trade. How much quantity of steel does Kansarado import from the world market? Basic identifiction international trade.png
Read DetailsSuppose the country of Kansarado imposes a $4 tariff on every unit of aluminum imported from the world market. The graph of the domestic supply and demand, and the world market, is below. How much does consumer surplus change after the imposition of the tariff? Tariff 3.png
Read Details“Dark patterns” in software design are processes in apps and websites that make it difficult to unsubscribe to a subscription service. An example is a site that lets you subscribe with a single click online, but forces you to call a customer service number and be put on hold, then be subject to a marketing pitch and other stalling questions, in order to unsubscribe. Dark patterns are a form of price discrimination. Which group below will be charged the higher effective price by dark patterns?
Read DetailsSuppose the country of Kansarado imposes a $4 tariff on every unit of aluminum imported from the world market. The graph of the domestic supply and demand, and the world market, is below. How much revenue is raised by the tariff? Tariff 3.png
Read DetailsSome razors, like Gillette’s Fusion and Venus razors, have disposable heads. The razor comes with an initial pack with a razor handle plus three or four heads; after that, you need to buy refills separately. Where do you think Gillette gets more revenue: By selling the initial pack or by selling the refills?
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