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George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 100 bunches of bananas. In the two-person economy that George and John set up, fish sell for 3 clamshells each, boars sell for 10 clamshells each, and bananas go for 10 clamshells a bunch. George paid John a total of 30 clamshells for helping him to dig bait for fishing, and he also purchased five of John’s mature banana trees for 30 clamshells each. What is the GDP of George’s and John’s island in terms of clamshells?
q.a. for jalapeno peppers draw a graph of market. be sure to label everything.b. draw a new graph that shows what
What would the government likely challenge a merger where a firm with 20% share is attempting to acquire a firm with a 5% share.
Suppose the MPC is an economy is 0.9. The APC is initially 0.95 and disposable income is $4 billion.
What is your bottom line in negotiations with the telecom? Suppose you agree on a price slightly above your bottom line.
Suppose that Shelly's preferences for consumption and leisure can be expressed as u(c ,l)=(c-200)×(l-80). Calculate her utility, u0 , if she consumes c = $360 and enjoys l = 110 hours of leisure per week. Evaluate her marginal utilities of consumptio..
Explain how is the equilibrium level of national income determined in the Keynesian cross model? What are the major limitations of this model.
Suddenly, 20,000 people immigrate from abroad and initially settle in the West. Elucidate why they possess the same skills as the native residents and also supply their labor inelastically.
Illustrate what could be related goods to health care. Illustrate what are the inter-relationship between these goods.
The decline in cigarette sales was estimated at 8 percent. What does this imply for the elasticity of demand for cigarettes? Explain?
Explain how a group of nations could develop a cartel to maximize their profits of COFFEE. Be sure to address natural resources and/or factor endowments that could be leveraged in the creation of the cartel.
What are the key points in a short-run production function that delineate the three stages of production? Explain the relationship between the law of diminishing returns and the three stages of production.
Assuming the same are price elasticity of demand calculated in part B, determine the future price reduction necessary for B.B. Lean to fully recover lost sales (i.e., regain a volume of 10000 units).
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