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Traditional free-trade theories are based on six crucial assumptions, which may or may not be valid for developing nations (or for developed nations for that matter). What are these crucial assumptions, and how might they be violated in the real world of international trade?
A company is considering replacing its fleet of delivery vans and has a choice between gasoline and diesel powered vehicles. The gasoline powered truck has an initial cost of $34000 and a fuel economy of 9 MPG. The diesel powered model has an init..
a chemical engineer is considering two styles of pipes for moving distillate from a refinery to the tank farm. a small
The widget Industry in Anytown is a monopoly, controlled by Widget Corp. Its demand curve for the local market is given by P = 800 - 20 W Where W represents the number of widgets sold per period. The total cost function (including opportunity or impl..
(Fiat Money) Most economists believe that the better fiat money serves as a store of value, the more acceptable it is. What does this statement mean? How could people lose faith in money?
On the horizontal axis, label the profit-maximizing level of production as Q1. On the vertical axis, label the price P1 that the firm will charge at the profit maximizing level of production.
The table below gives growth rates for the United States for various time periods. Using these data, calculate the growth rate of average hours worked per capita for each period.
Compute the inflation rate for each year 1989 - 2006 and determine which were years of inflation. In which years did deflation occur In which years did inflation In which years did deflation occur In which years did disinflation occur
Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q) = 28Q - 5Q^2 and C(Q) = 100 + 8Q. (Note: MB(Q) = 28 - 10Q and MC(Q) - 8.)
To prevent inflation, the Bank of Canada should follow Teddy Roosevelts advice: Speak softly and carry a big stick. What would the Banks big stick be? What is the statement trying to say?
Similarly, calculate the F statistic from the value of R2 obtained in the earnings function fitted using your EAEF data set and check that it is equal to the value printed in the output. Perform an appropriate F test.
suppose that you are hired as consultant to a firm producing a therapeutic drug protected by a patent that gives a firm
If coffee price declines by 2%, what is the expected percent change in consumer demand (assuming there are no other changes that would affect demand for coffee) What is the expected change in revenue derived from coffee sales
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