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Home and Foreign are two identical countries except that people in Home work twice as hard of those in Foreign. Each has two industries (Steel and Shoe industries), where steel production is capital intensive and shoe production is labor intensive. Under the standard Hecksher-Ohlin model with two factors of production (L, K), what would be your prediction of the patterns of trade between these two countries? What do we know about wage rates before and after trade in these two countries?
Find the optimal crude oil allocation for the following example if the profit associated with square foot of fiber is cut to $0.375,
Is it appropriate to think of all of Australia as a single geographic market for the production of natural gas? If so, explain why. If not, what are the relevant geographic markets? Based on your geographic market definition(s) above, would you expec..
q1. on april 1 1996 taco bell the fast-food chain ran a full-page as in the new york times with this news in an effort
Illustrate can the oligopoly market structure make profit for both consumers and businesses by forging common standards in industries that experience rapid technological change.
Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible?
For the supply and demand curves in the diagram, the level of employment will be highest at: Allocative inefficiency in a labor market may be caused by:
If you have to make a random guess and there are four possible answers, what is the expected value of guessing?
determine the macroeconomic effects of the following macroeconomic event when the economy is initially at less than
q1. you have been hired to be a consultant on pricing strategies for two different companies. both of the companies
_____ is NOT a characteristic appropriate for a yield management strategy.
Using Oaxaca decomposition, calculate how much of wage differential is due to discrimination. What is an alternative Oaxaca decomposition that would lead to a different measure of discrimination.
A industry is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do.
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