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Consider again the case analyzed in class with two sectors exhibiting constant returns to scale technology (sector A is capital intensive and sector T is labor intensive). Suppose there is a neutral technological change in sector T only (no technological change in sector A). A neutral technological change is one that increases the productivity of K and L without changing the trade o between capital and labor (i.e. it increases the production value associated with each isoquant without modifying their shape). Derive the production possibility frontier before and after the technological change and the autarkic equilibrium before and after the technological change. Will pA=pT in autarky be higher, lower, or the same after the technological change as compared to the situation without the technological change? Explain your answer.
q.this is a drag-and-drop question. click on the curves below and drag them to a new location on the graph that will
A free-market republican argues against the Pigouvian tax by pointing out that the conditions necessary for the Coase Theorem to produce an efficient equilibrium are present in this situation. Assuming that the republican is correct, describe two met..
Say whether each of the following situations involves screening or signalling.
How much must be deposited in an account to have annual withdrawals of $1000 forever? Interest is compounded quarterly and the interest rate is 9% for the first 10 years and 10% thereafter.
q. macon farms 6 coupon rate semi-annual payment 1000 par value 12 year bonds currently sell at a price of 814.20. if
Calculate national income. if there were 80 million people in this country, what would the GDP per-capita be? if all prices were to double overnight, what would happen to the values of real and nominal GDP? nominal____ real gdp____
Elucidate how you arrived at your answer and be sure to show all your calculations. Explain how many units of output will the firm produce at a price of $100 per unit
What has happened to real GDP per person in the industrialized countries over the past century? What implications does this have for the average person?
Explain the importance of agriculture to Brazil’s current success. What role will agriculture play in Brazil’s future? What are the implications of this for other countries? How might countries like the United States react if Brazil is successful in ..
An apparel manufacturing plant has estimated the variable cost to be $4.50 per unit. Fixed costs are $500,000 per year. Forty percent of its business is with one preferred customer and the customer is charged at cost. If 150,000 total units are sold ..
Suppose that each worker in the Home country can produce three cars or two TVs. Assume that Home has four workers. Graph the production possibilities frontier for the Home country. What is the no-trade relative price of cars at Home?
Should antitrust laws (or other regulatory policies) attempt to eliminate all forms of imperfect competition? Why or why not?
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