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In one hour, John can prepare 2 income tax returns or 4 financial statements. In one hour, Frank can prepare 1 income tax return or 3 financial statements. Frank and John currently work separately, and they are deciding whether to continue working alone or to work together. If they continue working separately, each of them must continue to produce both tax returns and financial statements. In this example, the value of one tax return and one financial statement is the same. Based on the above information on comparative advantage:A. Frank should specialize in preparing financial statements in a joint effort.B. Frank should specialize in preparing tax returns in a joint effort.C. John should work alone, preparing both tax returns and financial statements.D. There is not enough information to know whether they should work alone or combine their efforts.
There is no paradox of savings (of thrift) in the medium run. Even in a liquidity trap, wage and price deflation will stimulate production and therefore real income
The marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit, and an output of 2 million units. The price that consumers are willing and able to pay for this output is $40 per unit.
your son is graduating from high school and is about to enter the work force. he has developed a strong curiosity about
A Federal Reserve Bank has employed the economic consulting company to make a paper on how the use of money has changed over the past twenty years.
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
A certain engine lathe can be purchased for $390,000 and depreciated over three years to a zero salvage value with the SL method. This machine will produce metal parts that will generate revenues of $260,000 (time zero dollars) per year.
the cfo mr. smith asked youhis new managerial accountant to explain the three following cost systems 1. activity based
discuss how the actions of the federal reserve specifically an increase or decrease in money supply affect the other
Mr. Smith is president of a firm that is the industry price leader; that is, it sets the price and other firms sell all they want at that price. The other firms act as perfect competitors.
how does the charging the monoply a specific tax per unit affect the monopoly optmum and 5the welfare of
When the price of an input falls, a firm's marginal cost curve shifts down and overall production increases so that more of every input is employed is known as a the output effect
Market demand is p = 540 - q and the market supply equation is p = 60 + 2q. Use this data for the following questions. (The question is in bold bellow) The competitive equilibrium is:? Consumer surplus at this competitive equilibrium is:?
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