Opportunity cost to demonstrate potential for gains

Assignment Help Business Economics
Reference no: EM13770609

Propose a numerical and graphical example of 2 agents w/ constant opportunity cost to demonstrate potential for gains from trade. be sure to explain the opportunity cost of the two goods for each agent, who has the absolute and comparative advantage in each good.

Reference no: EM13770609

Questions Cloud

Consumer might want the goods a firm produces : The fact that a consumer is not required to buy the goods that a given firm produces, as well as the fact that the consumer might want the goods a firm produces, but may choose to buy from other firms instead.
An increase in the reserve requirement : An increase in the reserve requirement would:
What is the dead weight loss : A profit-maximizing monopoly has pricing under the following conditions: the price charged for goods produced is $15, the intersection of the marginal-revenue and marginal-cost curves occurs where output is 105 units and marginal revenue is $10, and ..
Foreign -exchange is considered to be derived schedules : The supply and demand for foreign -exchange is considered to be derived schedules. Explain and give examples.
Opportunity cost to demonstrate potential for gains : Propose a numerical and graphical example of 2 agents w/ constant opportunity cost to demonstrate potential for gains from trade. be sure to explain the opportunity cost of the two goods for each agent, who has the absolute and comparative advantage ..
Another by strong departmental or divisional lines : When units at MNO International are isolated from one another by strong departmental or divisional lines, it refers to
Contribute to the emergence of which type of conflict : If John and Jose are not able to recognize and respect cultural differences, they may contribute to the emergence of which type of conflict?
Impact of free trade on domestic job creation policy : International trade has pros and cons. Economists generally support free trade. International trade has played a significant part in promoting economic development and technology transfer among countries.
Find the monopolist price and quantity : Suppose a monopolist has cost curve C(q) = 10 + 3q + 0.1q 2 and faces demand q = 12 ? p. Find the monopolist price and quantity. Return to the situation in (a) with only one market. What would be the monopolist profit?

Reviews

Write a Review

 

Business Economics Questions & Answers

  Q1 explain why each of the following statements are false

q1. explain why each of the following statements are false. for each write the correct statement.a. a monopolist

  Minimum price necessary for the company to supply

Illustrate what is the minimum price necessary for the company to supply one thousand cups.

  Q1 laura bought word -processing software in 2005 for50

q1. laura bought word -processing software in 2005 for50. lauras twin brother laurence buys an upgrade of the same

  What is the motivational factors

Explain what the political motives are behind more third world countries joining the international market. What is/are the motivational factors?

  Floods in the midwest substantially reduce food production

Suppose that droughts in the Southeast and floods in the Midwest substantially reduce food production in the United States. Use the aggregate demand–aggregate supply model to illustrate graphically the impact in the short run and the long run of this..

  Find out the total nominal money stock as measured

Find out the total nominal money stock as measured by the Federal Reserve's definition of M1. What will happen to each of your answers to part a to e.

  How would the effects of international trade on the domestic

How would the effects of international trade on the domestic orange market change in the world price of oranges were above the domestic equilibrium? Draw a graph to help explain your answer.

  Are there barriers to other firms imitating this strategy

In the Wall Street Journal article included in this week's lesson, what change in the small drugstore chain's product differentiation strategy has helped lift profitability? What has been responsible for the success of this strategy (who comprises th..

  Equilibrium price of coffee mugs rose

The equilibrium price of coffee mugs rose sharply last month, but the equilibrium quantity was the same as ever.

  Discuss with your colleagues how you think research

Check your client's Web site to find out if it discusses its business plans for now and in the future. This is often found in a public company's annual report. Private companies sometimes list their business activities under the "About Us" or "Newsro..

  New amount of break-even units

Due to a technical breakthrough, the fixed costs for a firm drop by 25%. Prior to this breakthrough, fixed costs were $100,000 and unit contribution margin was and remains at $5.00. The new amount of break-even units will be?

  Calculate the gdp of autoland using the final goods approach

An automobile factory sold $10,000,000 in automobiles to final consumers. Given these events, calculate the GDP of Autoland using a. the final goods approach. b. the value-added approach.

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