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Q. Nation A has 1500 units of labor also can produce 2 goods, manufactures also food.
A's producers take 5 units of labor to produce one unit of manufactures also 6 units to produce one unit of food. Nation B has 1800 units of labor also takes 3 units of labor to produce one unit of manufactures also 9 units to produce one unit of food.
Draw the production possibility frontiers for the 2 countries. Draw the world relative supply curve for manufactures. Would trade take place in among A also B in Adam Smith's world? Illustrate what good would A export?
Assuming that the current production rates are maintained at the three congress plants, that unusual should management select.
Why would we expect that the price elasticity of demand for the product of an individual firm would typically be greater than the price elasticity of demand for the product overall.
Do protectionist policies benefit producers, consumers, workers, or the government
The widget Industry in Any town is a monopoly, controlled by Widget Corp. Its demand curve for the local market is given.
Economic surplus could be increased at a higher price because firms would generate more revenue.
Use the two big questions of economics and the economic way of thinking to answer the following questions about the economic life of a homeless man.
Which of these same curve would shift as a result of the per-burger tax. Curves average fixed cost,marginal cost would shift as a result.
If Rob and Nate are the only people who purchase discs, graph the aggregate demand for discs and write down the equation for this aggregate demand function.
The moral hazard is the degree of risk that the insurance company is taking in order to provide coverage on the individual.
if Night Timers plans to sell 125,000 rolls per year, Illustrate what is the necessary price if the firm is to break even
Explain how more would cumulative spending increase as a result.
How will you consider the structure of the fresh salmon industry to calculate the forecast. Will you advise the firm to enter the industry.
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