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Trade, comparative advantage discussion
Taking business personally: Would you have a higher consumption standard of living by self-sufficiently producing all the goods you and your family want to consume or by employing your labor time and/or entrepreneurship to their comparative advantage in the global market economy? Explain
Assume you want to begin a business in an area in which a natural disaster has recently occurred. How would you decide which kind of business to start.
In most developing countries, there are long lines of taxis at airports, and these taxis often wait two or three hours. Illustrate what does this tell you about the price in the market. Carefully Explain with supply and demand analysis.
Write a brief explanation of each of the following terms. import tariff, effective rate of protection
Explain what is the stance of other developed countries on this issue.
How do you think each of the following affected the world price of oil? (Use demand and supply analysis.)
Assume that the Fed perceives inflation on the horizon and decides to pursue a contractionary monetary policy.
Explain how does technology affect an organization's productivity and costs. How has your organization used technology.
Illustrate what happens to the supply curve and the equilibrium point when a new technology improves a production process.
Elucidate what is the residual demand elasticity facing one firm at the competitive equilibrium.
Using the tools of analysis developed in this course, demonstrate that removing the subsidy will make consumers worse off but will nevertheless improve society economic welfare.
Suppose the price elasticity coefficient anticipation of the Christmas season. Estimated 4th quarter sales volume will be.
Mention the four assumptions for the Monopolistic competition model.
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