Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
- Gains from Trade
You find yourself in a lonely oasis in the desert. The only two things you can produce are either dates or water. In a day you can either gather 100 dates or collect 50 liters of water. And you choose to spend 4 days a week gathering dates and 3 days a week collecting water.
a) What are your opportunity costs of water and dates?
Now imagine in the neighbor oasis is Mohammed and he can produce in a day either 150 dates or 60 liters of water. And he chooses to spend 4 days a week gathering dates and 3 days a week collecting water.
b) What are Mohammed’s opportunity costs of water and dates?
c) Who has an absolute advantage in dates and water production and who has a comparative advantage in dates and water production?
d) How many dates and liters of water are you and Mohammed producing per week before trade?
e) How many dates and liters of water are you and Mohammed producing after you decided to trade with each other? (Hint: Each one Specializes)
f) Think of an exchange that would make both parties better off than before they decided to trade with each other.
A free-market republican argues against the Pigouvian tax by pointing out that the conditions necessary for the Coase Theorem to produce an efficient equilibrium are present in this situation. Assuming that the republican is correct, describe two met..
What is M1 in Iron mania. What is M2 in Iron mania.
the mainstream theory of the business cycle, is the most common source of reciession: a decrease in aggregate demand, a decrease in aggregate supply, or both.
find the expected frequencies if the die is fair. calculate the chi-squared statistics. find the 5% critical value
Suppose a company produces $5M worth of output and has sales of $2M each to domestic and foreign customers. It imports $1 M worth of raw material, pays its workers $3M in wages, pays its creditors $2M in interest, and has minus $1M in profits for its..
Do recent economics actions justify greater regulation in the financial services industry Wall Marts continuous replenishment system illustrates a tactical utilize of information services.
q1. assume that the production function for a commodity is given by q 10radiclk where q is the quantity of op the
Suppose that Taher's pizza business operates under competitive conditions and that his short-run production function is q=20^E. Once again assume w = $6 but suppose the government imposes a tax of 25% on each dollar he pays his workers, to cover thei..
The Honolulu tourism commission currently proposed a 7% tax on hotel rooms to pay for an outdoor amphitheater.
An entrepreneur took a one-month leave of absence. Elucidate how many units did she have to sell To facilitate turn a profit
q.howard bowen is a large-scale cotton grower. the land as well as machinery he owns has a current market value of 4
Does convergence property imply that a measure of dispersion of income per person across the economies will narrow over time? Absolute convergence held for US sates from 1880 to 2000. A measure of the dispersion of per capita income across the states..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd