The long-run equilibrium price PLR is

The above graph illustrates the supply and demand for widgets in Econland, where instead Widgets can be obtained in world markets at a price PWorld = R as illustrated.  Suppose initially Econland is in autarky.  Then it opens to free trade with the rest of the world. Use this information to answer questions 11 – 15.

Compared to free trade, the size of the producer surplus ____ with the tariff and the size equals____. (Fill in the blanks.)

Ahmed is a consumer who enjoys both ice cream and chocolate. His preferences over these two goods are complete, transitive and non-satiated/monotone, and the two goods are imperfect substitutes. Which of the following statements are true regarding Ahmed’s indifference curves? (i) If the indifference curve containing bundle A is above the indifference curve containing bundle B, then Ahmed prefers bundle A over bundle B. (ii) Ahmed’s marginal rate of substitution between ice cream and chocolate is lower the more ice creams he consumes. (iii) Ahmed’s indifference curves always cross at one point.

Once Econland opens to trade, they will

Continuing the previous question, after demand shifts to D2, in the short run, the profit of each firm will be

Suppose that instead of free trade, the government of Econland sets a tariff on widgets equal to TW. Tariff revenue to the government equals

A patient repeatedly makes the statement “I always get things wrong!”   Later, the patient makes a statement that demonstrates progress resulting from cognitive behavioral therapy. Identify the statement that supports this concept.

Your patient verbalizes feeling worried and anxious about talking with her mother this afternoon.  The patient is twisting her hair, rocking back and forth, and slowly moving her leg back and forth.  This patient’s behavior can be explained using which of the following terms of the personality?

A competitive scholarship opportunity was posted by the education department at a university hospital. Several qualified people applied.  Once the scholarship recipient was announced, the employee who was not selected, complained stating, “The application was biased and did not include the qualities that were desirable for the position.”