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If a country has the comparative advantage in producing cloth, in the market for cloth the autarky price would be _____ the world price and the country would _____ cloth.
the same as; export
greater than; export
less than; export
less than; import
Discuss the information asymmetry, the adverse selection problem,and why soft selling is a successful signal.
The demand for good x1 is given by: (m/p1) - (p1/p2), where p1=1, p2=1, and m=10.Which of the following accurately describes the INCOME elasticity of demand?
The annual inflation rate is the yearly percent change in the ....
Today more workers in the US are members of lavor unions than any time in our history. Today labor unions are weaker than anytime in the last 100 years. No major labor union has called a strike since the 1940s.
Consider two maple syrup producers that engage in Cournot competition. Inverse demand for maple syrup is given by P(Q) = 16 − Q and the marginal cost of each producer is 4. If the producers do not collude, what is the Cournot equilibrium amount of sy..
Identify those who gave us the concepts of monopsony and human capital.
Indicate the type of sales promotion that a producer might use in each of the following situations and briefly explain your reasons: (1) A firm has developed an improved razor blade, but customers are not motivated to buy it.
Consider the following production function. Y=K^5 (AN)^.5 , where both the population and the pool of labor are growing by rate n=.07, the capital stock is deprecciating at a rate of d= .03, and A is normalized to 1. What is the form of this producti..
Illustrate what was the impact on the supply and demand of labor on one sector of the labor market. Explain the factors that affected labor demand and labor supply in the chosen historical example.
Also that would you considers more likely, to longer-term- U.S. government bonds have a high interest rate than short-term U.S. government bonds or vice versa.
Draw the diagram for a firm in long run equilibrium in monopolistic competition. What role do economic profits and losses play in getting the firm to this point?
Examine the effects of supply and demand of milk. How do markets operate to bring this product into existence? Think about how these different markets work together to create a new product. How does that relationship affect supply and demand for the ..
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