Advantage in producing a particular good , Microeconomics

1.      How can a nation and its producers determine whether or not it has a comparative advantage in producing a particular good or service?


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2.  The above figure shows the market for the three moving companies in a small nation. If the movers act as perfect competitors, what is the price per mile and the number of miles per year? If the movers collude and act as a single monopoly, what is the price per mile and the number of lines per year?

3.  a. "The marginal rate of substitution of the good measured along the x-axis increases as a consumer moves downward along an indifference curve." Is the previous statement correct or not?

b. Describe the consumer equilibrium in the indifference curve/budget line model.




Posted Date: 4/5/2013 6:06:24 AM | Location : United States

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