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Two women, Michelle and Tracy, are stranded on an island. Michelle can catch 8 fish per hour or gather 10 coconuts per hour. Tracy can catch 10 fish per hour or gather 40 coconuts per hour.
Please fully explain and justify who has:
(a) an absolute advantage in producing both products,
(b) a comparative advantage in gathering coconuts, and
(c) a comparative advantage in catching fish.
Due to an expanded growth in a city, new waste capacity is needed. A new truck is evaluated to replace the presently owned. The interest rate is 8%.
In terms of the shareholder wealth maximization model, if the expected future profits of a firm are cut in half, what should happen to the share price?
Important model in Economics - the Supply & Demand model. The chapter talks about the differences between movement along the supply and demand curves vs. shifts of the entire curves. It lists five things that would shift the entire demand curve and f..
Fewer people are employed in Freedonia now than at any time in the past 75 years. The unemployment rate in Freedonia is lower now than it has been in 75 years. Can both of these statements be true at the same time? Explain.
An asset purchased for $50000 has a depreciable life of 5 years, and it has a terminal book (salvage) value of $5,000 at the end of its depreciable life. With the straight-line method of depreciation, what is the assets book value at the end of year ..
What was Mill talking about when he wrote about the quality of pleasures?
Economic theory would suggest that the profitability of an industry would be
If the federal government chooses to increase government expenditures explain the three methods of financing the expenditures in terms of: which is the most expansionary, what are the negative effects of each, and which is the most inflationary.
Explain how a price increase could be better for society than not raising the price of a product or service. Why does central planning not work efficiently?
q.assume there are 100 identical firms in an initially competitive market. market demand is given by p10-q200 and
Create two separate graphs that show current changes in equilibrium interest rates using the MD and MS curves. Describe the following: The Fed's actions to fight recession, The Fed's actions to lower inflation, Create two NEW graphs adding AD/AS curv..
First National Bank receives a deposit of $5,400. If there is no slippage, explain how much could the money supply expand.
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