3. Winners and losers from tariff reductions Suppose that Australia imports coffee from Colombia. The free market price is $7.00 per pound. If the tariff on imports in Australia is initially 14%, Australians pay $ per pound. One of the accomplishments of the Uruguay Round that took place between 1986 and 1993 was significant across-the-board tariff cuts for industrial countries, as well as many developing countries. Suppose that as a result of the Uruguay Round, Australia reduces its import tariffs to 7%. Assuming the price of coffee is still $7.00 per pound, consumers now pay the price of $ per pound. Based on the calculations and the scenarios presented, the Uruguay Round most likely in Australia and in Colombia.

Which of the following is a problem for the production of public goods?

Dahlia enterprises needs someone to supply it with 127,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you’ve decided to bid on the contract. it will cost you $940,000 to install the equipment necessary to start production; you’ll depreciate this cost straight-line to zero over the project’s life. you estimate that in five years, this equipment can be salvaged for $77,000. your fixed production costs will be $332,000 per year, and your variable production costs should be $11.00 per carton. you also need an initial investment in net working capital of $82,000. if your tax rate is 30 percent and your required return is 11 percent on your investment, what bid price should you submit? (do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

If you miss two payments on a credit card what is generally the penalty