Economics of Enterprise Answers

Using diagram distinguish between a minimum price and maximum price. Outline the effect of each price control.

with the aid of a fully labelled diagram, explain what would happen in the market for sugars if the price of Rooibos tea increase ceteris paribus

suppose that there are only two firms in the petroleum market that are Saudi Aramco (SA) and Kuwait Petroleum Corporation (KPC). They give you some information about the petroleum market and you have to answer the question below.

#Demand Equation: P=110-Q

Discrimination of ________ degree exist when consumption of a good is divided into various blocks, a separate price is charged from each block but for each block a uniform price is charged.

The USA and People Democratic Republic of China are recently in trade war. The USA initially imposed additional tariff on aluminum products coming from China. The Chinese government retaliated against the USA by imposing additional tariff on good coming from the USA. Nevertheless, neither country is claimed to violate WTO law. How do these countries manage to increase import tariff without violating their WTO tariff commitment?

1. Brexit is a recent debatable issue in the international economic order. Whether Britain should opt for soft Brexit or hard Brexit is a point of contention for politicians. In the due course, some commentators in the international economic order claim that UK may stick to the “WTO option” in its EU exit process. How do you think will the “WTO option” ease UK’s exit process from the EU?
2. In March 2018, in Rwanda, Kigali, African leaders came up with an agreement to establish continental regional trade area in Africa. On the other hand, majority of states in Africa are members of the WTO. Therefore, how does the Regional Free Trade Area give favorable advantage in trade for African countries without violating WTO law? How may a WTO member state engage in the continental free trade agreement while giving favorable advantage only for African countries without evading their WTO commitment?

Explain when the President and Congress would use a contractionary fiscal policy and an expansionary fiscal policy what the overall result could/would be.

Explain when the FED would use a contractionary monetary policy and an expansionary monetary policy, and what the overall result would/could be.

Net returns after subtracting total costs from total revenue

What would you expect to happen to the rents you can charge under the following conditions?
(i) A major organization in the city closes down.