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How can GM maintain control of its production in the China market?
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- What has driven the GM production alliance in Shanghai?A politician argues that the United States should temporarily ban the import of battery-powered electric scooters because this is an "infant industry". According to what we learned in class, which of the following counterarguments would we expect an economist to raise: This temporary ban might become permanent because the electric scooter manufacturers will never become globally competitive. This ban will hurt the wages of manufacturing workers in other countries This ban will increase the price that people in other countries pay for electric scooters This ban will destroy American jobs in the electric-powered-scooter industryIf Kiesel experienced an increase in orders from its websiteover a period of two weeks, should it expand its productioncapacity to make sure it can handle increased demand inthe future? Why or why not?
- Round off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is 2700 5,000 p=47 + -forD>1 D D² The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $39 per unit. What is the number of units that should be produced and sold each month to maximize profit?Are US markets becoming less competitive and, therefore, less efficient?All else equal, a price reduction will have a bigger impact on the revenue of industries that have ?
- In the event that a firm makes zero monetary benefit, it will leave the market over the long haul. Do you concur? ClarifyWhat is the in-state and the out of state elasticity? Give your answer to two decimals.Sketch the microeconomics graph of the article, Industrial Demand for platinum driving significant supply shortfall
- Over-production results inDistinguish between technical efficiency and economic efficiencyMost raisins in the U.S. are produced in California. Raisins come from grapes, in a fairly simple process: grapes grow on vines; at harvest time, workers cut the bunches of grapes down; they spread them out in the sun for a couple of weeks until the grapes shrivel up and become raisins; the raisins are then packed into boxes and sold to consumers. But here’s the thing: California raisin growers have a cartel. And it is a legal cartel, based on a law passed in 1937 during the Great Depression. That law says that raisin growers are exempt from U.S. anti-trust law. So here is what the raisin growers do. They harvest their raisins. Then they have a big meeting of all the growers (called the Raisin Administrative Committee). At this meeting they decide how much of their raisin crop they are actually going to sell. Usually they decide that they will not sell their entire crop – in some years they decide that they will only sell half of it. Whatever they don’t sell goes into storage as a…