370_Homework-4

370_Homework-4 - Econ 370 Spring 2011 International Trade...

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Econ 370 Spring 2011 International Trade Professor Soderbery Homework 4 Due November 1 st Monopolistic Competition and Intra-Industry Trade (IIT) 1. Calculate the intra-industry trade index (pg. 165) for rice (HS 1006) and motor cars (HS 8703) in 2010 for Canada and Japan and the Entire World. To obtain the export and import values, access the U.S. Trade Stats Express Web site ( http://tse.export.gov/ ), click on “National Trade Data” then “Global Patterns of U.S. Merchandise Trade.” Under the “Product” section, change the item to rice or cars. Which product did you expect to have a higher index of intra-industry trade? Did you expect this to be different across countries? Explain your expectations for both? 2. Suppose that the demand curve for a good is represented by the straight line: ! = 10 ! Fill in the missing information on the following chart: Quantity Price Total Revenue Marginal Revenue 1 N/A 2 3 4 5 6 7 8 9 10 a. Draw a graph containing both the demand curve and marginal revenue curve.
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This note was uploaded on 02/06/2012 for the course ECON 370 taught by Professor Staff during the Fall '08 term at Purdue.

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370_Homework-4 - Econ 370 Spring 2011 International Trade...

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