Define which country has the higher wage

Assignment Help Econometrics
Reference no: EM13207562

America takes 10 hours to make a cup and 5 hours to make a bag. In Britain the two goods cost $24 and 6 hours. America has 40 hours of labor available. Which goods does America export. Which country has the higher wage?

Reference no: EM13207562

Questions Cloud

Calendars to schedule debate : House leaders may use any of these calendars to schedule debate on a bill except:
What is the gain in net social benefits : Externalities-analysis and policy design: Suppose that in a competitive market, demand is given by the equation P = 600 - Q, and supply is given by the equation P = 160 + Q, where P is price and Q is quantity of some good or service.
Information systems-payroll, accounting or customer service : Information systems, payroll, accounting, or customer service, this is called
What wages in frances steel industry : Greece has few workers per unit of land while France has many workers per unit of land. Steel is labor intensive and rice is land intensive. According to the long run Heckscher-Ohlin model. The price of land use in Frances steel industry.
Define which country has the higher wage : America takes 10 hours to make a cup and 5 hours to make a bag. In Britain the two goods cost $24 and 6 hours. America has 40 hours of labor available. Which goods does America export. Which country has the higher wage
Determine what is germanys current account balance : Germany consumers have $50 in income "their gross domestice product". They spend $35 on consumer goods "$25 on Germany goods and $10 on imports", they save $8, and pay $7 in taxes. The government collects $7 in taxes and spends $10 on locally-made..
The role of the house rules committee : The role of the house rules committee is played in the senate by the
Imagine you are inside an ideal child care facility : Imagine you are inside an ideal child care facility. You hear a commotion. Turning, you witness two toddlers, a boy and a girl, fighting over a shopping cart. The girl does not want to give the boy a turn. She bites him.
Explain a decrease in the supply of random access memory : Evaluate the following statements using graphical analysis. Provide a brief narrative explanation of your graph to support your evaluation. Make sure the axes and curves in your graphs are properly labeled. a. "When demand for home heating oil incr..

Reviews

Write a Review

Econometrics Questions & Answers

  Derive the short-run market supply curve

Suppose that there are 80 firms in a market, each with the following cost function: C(q) = 100 + 4q^2 A.) Derive the short-run market supply curve. B.) Suppose the market demand is Qd= 1280 - 30P Find the equilibrium market quantity and price.

  Estimate the value of for sales level

Over the last one year the Four Winds Novelty Corporation has recorded its internet sales and its monthly total variable costs for a particular novelty item as demonstrate in the following table.

  Estimate the number of cups served per week

Supply and demand Joy's frozen yogurt shops have enjoyed rapid growth in northeastern states in recent years. From the analysis of joy's various outlets, it was found that the demand curve follows this pattern. Q=200-300P+120 I +65T-250Ac+400 Aj Q..

  Calculate the algebraic level of equilibrium output

This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following compo..

  What is hans before tax realized real interest rate

When Hans calculates his taxes at the end of the year, he writes down on a form how much he invested and multiplies that amount times the inflation rate for the year to arrive at his "inflation compensation amount.

  What if the before-tax cash flow for each year for 10 years

A compnay places a system for $3000000.00. It is expected to last 30 years with a salvage value of $250000.00. It will increase net income by $500000.00 in the first year, increasing 2.4% each year thereafter. The tax rate is 40%, and after tax MA..

  How to apply midpoints approach to the elasticity of supply

at a price of $1 each, 200 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1). In the long run, a price increase from $1 to..

  Define the inventory level vs time for a reasonable number

A company has an annual requirement for 150,000 parts, which cost $125 each. The parts require processing having a $4,000 setup cost. Each part occupies 0.5 sqft of floor space in the factory. Floor space has a total cost of $12.50 per square foot..

  When the allocatively efficient output is being produced

What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output Q1 level is being produced How large is the dollar value of the consumer surplus at that output Q1 level

  At what price and quantity is zenvoxs total revenue maximize

The Zenvox Television Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5I, where Q is the number of televisions, P is the price per television and I is the average monthly income. Average monthly income i..

  Calculate the profit of each firm at the equilibrium

Suppose that two identical firms produce widgets and that they are the only firms in the market. Their costs are given by C1 = 60Q1 and C2 = 60Q2, where Q1 is the output of Firm 1 and Q2 the output of Firm 2.

  How long must the treated version last to be the preferred

A low-carbon-steel machine part, operating in a corrosive atmosphere lasts 6 yeras, and costs $350. If the part is first treated for corrosion resistance, it will cost $500 part ($150 more than just the part with no treatment) but lasts longer.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd