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Now suppose that the rest of the world has the same technology and pref- erences. In particular assume that the following Öxed coe¢ cient technology applies. Unit Capital Requirement 10 Good=Factor Unit Labor Requirement Food 20 Clothing 10 20 Assume there are 120 units of labor and 120 of capital at home and that the goods are consumed in a 1 to 1 ratio at all prices. 1. Can the autarky price of clothing relative to food be 1? 2. Suppose that this country was broken into two, Home and Foreign. Home got 70 L and 50 K and Foreign got 50 L and 70 K. Can the free trade price of clothing relative to food be 1? 3. How much is made of each good by each country under trade? 4. What if Home got 90 L and 30 K and Foreign got 90K and 30L? Can the free trade price of clothing relative to food be 1? 5. How much is made of each good by each country under trade? 6. Does trade always do everything that integration would?
a. Draw a diagram showing Sparkle's demand curve, marginal-revenue curve, average-total-cost curve, and marginal-cost curve. Label Sparkle's profit-maximizing output and price. b. What is Sparkle's profit.
Give a numerical example to show that a monopolist's marinal revenue can be upward-slping over prt of its range
Comparative statics examine in economics is best illustrated as comparison of equilibrium points before and after changes in market have occurred.
If a firm charges less than the market price, it loses potential revenue. If a firm charges more than the market price, it loses all its customers to other firms.
Marketing Strategy :Value Proposition,Critical Issues,Financial Objectives,Marketing Objectives,Target Market Strategy,Messaging,Branding
Suppose that an individual allocates his or her entire budget between two goods, food and clothing. Can both goods be inferior? Explain.
Total soft drink demand increased, and Pepsi took a larger share of the demand. Why is the equilibrium of this game different from that of a prisoners' dilemma?
Write down everything you would require durint your preparation for the debate.your preparation should include graphs and formulas.
many economists feel the inflation rate is overstated. Analyze the impact of the overestimated inflation rate on the economy; be sure to mention which groups benefit and which groups are hurt by the inaccurate estimate of inflation
the term bogo buy one get one also referred to as buy one get one free has entered the urban dictionary and is a sales
When looking at regression results, how do you know which of the estimated regression slope coefficients are STATISTICALLY SIGNIFICANT. How do you know if the independent variables explain a large fraction of the variance when looking at regression ..
In the Reflection Before Action: The Statistical Consultant Confronts Ethical Issues article, the authors cite the American Statistical Association's Ethical Guidelines for Statistical Practice (see the section "Ethics Provides A Defensible Respon..
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