Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
For each of the following cases below determine the following:
(a) the relative price of S toT(Ps/PT) in each country before trade
(b) comparative advantage of each country
(c) the range of relative wage between country A and B:WA/(WB*E)
Labor hours required to produce S or T in country A and B:
Country A: S=6 T=2
Country B: S=15 B=12
2. Suppose that there are 20,000 hours of labor available in country A, and that 5 hours of labor are required to produce one unit of S, while 4 hours are required to produce one unit of T. Draw A's PPF and find its slope. What is the relative price of S to T (Ps/PT)?
3. Use the information in problem 2 plus the following additional data to graph A's trade triangle:
world relative price of S to T=2;
A’s imports of T=1000; Find A’s exports of S=?
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Would the consumer prefer to get $100 in food stamps or $100 in cash? You need to justify your answer t..
The long-term nature of the employment relationship: motivates household members to seek market work in order to earn an income. reduces the sensitivity of wage rates to changes in demand and supply.
It is relatively clear why price discrimination may be good for firms. But what about consumers? Do you think consumers benefit or are hurt when the firm is able to charge a different price to different customers?
Evaluate a combined cycle power plant on the basis of the PW method when the MARR is 12% per year. Pertinent cost data are as follows: (5.3) Power Plant (thousands of $) Investment cost $13,000 Useful life 15 years Market value (EOY 15) $3,000 Annual..
On January 1, 20X1 NCAA Company purchased a truck that cost $24,000. The truck had an expected useful life of 5 years and a $4,000 salvage value. The amount of depreciation expense recognized in 20X3 assuming that NCAA uses the double declining balan..
Using graph, illustrate the effect of an increase of the input price on the production and profit of a one input-one output firm with decreasing return-to-scale technology?
Consider a neighbourhood with 1000 residents. Each individual must choose (let’s assume simultaneously) whether to be a criminal or not. If an individual chooses to attempt a criminal act, their payoff is 200 if they succeed, but -300 if they are cau..
Operating expenses are expected to be $2000.00 the first year and increase by $500.00 each year during the life of the equipment. Is this is a good investment assuming equivalent annual methods?
Illustrate what was the impact on the supply and demand of labor on one sector of the labor market. Explain the factors that affected labor demand and labor supply in the chosen historical example.
Illustrate what matters is not the absolute abundance of factors, but their relative abundance. Poor countries have an abundance of labor relative to capital when compared to more developed countries.
Suppose SRAS is horizontal as believed by Keynesian economists and is given by P = 110 and that the aggregate demand curve is P =200-2Q. Now suppose that the SRAS shifts upward from P=110 to P = 115. What will happen to the inflation rate? What will ..
In an English open outcry auction,
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd