MICROECONIMICS
5th Edition
ISBN: 9781319372101
Author: KRUGMAN
Publisher: MAC HIGHER
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Chapter 8, Problem 13P
To determine
- As of 2012, which two states exported the most goods to China? What was the dollar value of those exports? Which three states exported the least to China?
- How did the export to China change from 2002 to 2012? Construct a table to show the change in the value of exports from 2002 to 2012 for each state.
- As a percent of total exports, rank the states in the order of most to fewest exports.
- Washington State’s largest exports to China are airplanes from Boeing, licenses for the use of Microsoft products, and the agricultural products namely wheat, apples, and hops. Microsoft and Boeing produce unique products at a relatively high price but many other states produce wheat, apple and hops. The other states export largely regular goods to China. How does this situation explain the pattern of exports to China across the states?
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A movie theater is showing two different movies: a Hollywood blockbuster (with 100 customers willing to pay $10 for a ticket, and 100 willing to pay $8) and an independent film that attracts 50 film buffs, willing to pay $20 each. Marginal costs are zero and neither movie can fill theater capacity. What is the theater's maximum profit if it cannot price discriminate (it must charge the same price for both movies) and if it can price discriminate (it may charge different prices for different movies)?
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