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Draw a two-country, two product trade model in which production in both industries is subject to increasing returns to scale. That is, draw diagrams for two countries in which the possibilities-possibilities frontier reflects increasing returns to scale. Then make additional assumptions (clearly stated) and show how trade between the two countries affects well-being in both countries. Does trade under increasing returns to scale still make both countries better off, as the constant-returns-to-scale H-O model shows? Answer this question using both your diagram and an accompanying verbal explanation.
Elucidate how the construction of tanks can be increased.
Explain what each of the estimated coefficients means that is interpret the results. Explain. Are each of the estimated coefficients statistically significant at the 5% level of significance? Explain Completely.
compare the automotive manufacturing industry today to the automotive manufacturing industry of the 1950s. applying the
Parker County Community College (PCCC) is trying to determine whether to use no insulation or to use insulation that is either 1 inch thick or 2 inches thick on its steam pipes. The heat loss from the pipes without insulation is expected to cost $1.7..
What is the cost function associated with producing y units of output? Assume now that input prices are (w1,w2). What is the cost function associated with producing y units of output?
What is the slope of the supply curve? What is the P-intercept of the supply curve? What is the slope of the demand curve? What is the P-intercept of the demand curve? What is the equilibrium price and quantity of apartments?
Explain a pricing strategy which would increase profits compared to a single price profit maximizing strategy. Be sure to include a graph which explains your demand, marginal revenue, and marginal cost.
Which statement most accurately captures the state of money today?
List at least four examples of why governments choose to restrict trade with another country. Which of these examples do you feel is the most justifiable?
Assume that the labor demand equation for a fictional country is Ld = 30 – 1w, where w is the wage per hour worked. Assume also that the labor supply equation for that country is Ls = 0.5(w).
Suppose the government sets an effective price floor (that is, a price above equilibrium) in the market for oranges and agrees to buy all oranges that go unsold at that price. The oranges purchased by the government are discarded. Illustrate the numb..
Health issues associated with different age groups in a community are actually quite different. Primary causes of morbidity and mortality, for example, vary significantly with the patient’s age. Select one of the age groups(adolescents, young adults,..
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