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Briefly explain the factor proportions theory by Heckscher and Ohlin. What, in your view are the major shortcomings for this theory? do the new trade theories help to overcome these deficiencies? Explain, using a critical comparisons of the two approaches. Which of the above approaches do you think best accounts for the trade pattern between south Africa and the rest of the world
Why does the burden of sales tax fall completely on customer when the value elasticity of demand is perfectly inelastic; the seller when perfectly elastic.
If the median voter theorem applies here, what budget decision will result - When leisure is a normal good, the income effect from an increase in wages is manifest.
1. data for the market for graham crackers is shown below. calculate the elasticity of demand between the following
a monopolist has two types of customers. there are 100 of type a who will each pay up tp 10 for a single unit of the
write a paper of 500-1000 words double-spaced briefly explain some of the issues that a company may face as it
In the Middle Ages, goldsmiths took in customers' deposits (gold coins) and issued receipts that functioned much like checks do today. People used the receipts as a medium of exchange. Goldsmiths also issued loans by writing additional receipts ag..
1. How do cultural influences relate to strategic implementation? Philip Rosenzweig in his article "Why Is Managing in the United States so Difficult for European Firms?" presents some ideas from French managers as to why Americans do not take well t..
What is the law of comparative advantage? According to the law of comparative advantage, what should be the distinguishing characteristics of the goods a nation produces?
what are the major factors that have affected u.s. household consumption since the recession in 2001?briefly explain
a country is described by the solow model with a production function of yk 12. suppose that k is equal to 400. the
1. what assumptions about preferences imply that indifference curves have the bowed-in shape they are assumed to
Compute the profit maximizing output produced by each firm. Compute the profits earned by each firm and the cartel.
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