Factor of production-labor theory of value is basis of cost

Assignment Help Business Economics
Reference no: EM13734323

1. If a nation has an open economy, it means that the nation:

A) Allows private ownership of capital

B) Has flexible exchange rates

C) Has fixed exchange rates

D) Conducts trade with other countries

2. In Adam Smith's trade model, labor is the only factor of production and the labor theory of value is the basis for cost. According to Smith's trade model in a two-nation, two-product world, a country has an absolute advantage in a product if the country

A) uses the same about of labor to produce the product as the other country

B) uses less labor to produce the product than the other country

C) uses more labor to produce the product than the other country

Reference no: EM13734323

Share of the fringe firms in an oligopoly market

In a price-fixing agreement amongst two oligopolists, each seller's best strategy would be to maintain the agreement, as it would leave both of them better off. The smaller th

Why do most negotiations for globl environmental regimes end

What are the advantages and disadvantages to a two-stage approach to negotians? Why do most negotiations for globl environmental regimes end up taking a two-stage approach?

What is the expected value of npv

A franchise restaurant chain is considering a new store in an unserved part of town. Its finance group estimates NPV of $10 million if the population growth is 10% (40% prob

Firm produce in order to achieve the profit maximizing goal

You are a manager of a small “widget”- producing firm. There are only two firms, including yours, that produce “widgets.” Moreover your company and your competitor’s are ident

Goals for equilibrium inflation rates and employment growth

In this question, we drop the assumption that the Fed is certain of the correct timing and magnitude of increases in short term money market rates in the US. What are the Fed’

Illustrate can the oligopoly market structure make profit

Illustrate can the oligopoly market structure make profit for both consumers and businesses by forging common standards in industries that experience rapid technological cha

Annual withdrawals is closest to what value

Suppose $10,000 is deposited into an account that earns 10% per year for 5 years. At that point in time, uniform end-of-year withdrawals are made such that the account is empt

Competitive firm is currently producing a level of output

If a competitive firm is currently producing a level of output at which marginal cost exceeds marginal revenue, graph the situation and explain why if MC>MR, it does not neces

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd