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Question 1. (a) What does it mean to buy low and sell high, globally?
(b) Provide an example of a business efficiently using this economic principle.
Question 2. (a) What does it mean to specialize according to one's comparative advantage and trade internationally? (b) Provide an example of a business efficiently using this economic principle.
Question 3. (a) Define opportunity cost. (b) Does every business choice have an opportunity cost? Explain. (c) Provide an example of a business practice with an economic cost that is different than its accounting cost. (d) Provide an example of a business practice with an opportunity cost that is different than its monetary cost. (e) Could the opportunity cost of a given resource use be different for different companies and/or be different for the same company at different times.
Question 4. (a) Is the economic cost of most international trade less than the economic benefit of that trade for the companies involved? Explain. (b) Is the economic cost of most international trade less than the economic benefit of that trade for the countries involved? Explain.
Question 5. (a) Which is usually better for most countries, protectionist trade policies or free trade? Explain. (b) For most countries would a fair trade policy usually be the same as a free trade policy? Explain
Assume that the demand for a gas station is given as PD = 2.06 - .00025QD. The marginal cost is $1.31 per gallon. At his current $1.69 price,
Find the equilibrium contract assuming that Cristina is a monopolist and derive expressions for E(Π1) and E(Π2), the expected value of Cristina's profits from loans that finance Projects 1 and 2 respectively - What is the expected profit that Jonatha..
Explain how the aggregate expenditure function shifts in response to changes in each of the variables - The real interest rate increases and Consumer confidence decreases.
QopyQat specializes in printing business cards and resumes, using latest laser technology. After examine the business, manager has decided that weekly demand can be approximated;
In building the aggregate expenditures model, Keynes believed that A. economies are normally at full employment and thus frequently susceptible to bouts of inflation. B. massive unemployment of labor and capital created conditions where sudden demand..
q1 write a note on managerial decision-making under perfect information risk uncertainty.q2 show that the price effect
Suzie's Silk Scarves is a start up that sells high quality scarves out of a boutique store. The monthly rent of store is $1,500 and Suzie has one manager who runs the store and receives $3,000 each month.
How much is each pollution voucher worth to Company A on the margin (that is, what is it willing to pay for one more voucher)? To Company B?
conduct interview with one of the managers in our company and ask him the questions. so do the interview with the
Long distance telephone service has become a competitive market. The average cost per call is $0.05 a minute, and it's declining. The likely reason for the declining price for long distance service is:
Over the last thirty years the company of Petroleum Exporting Countries has had varied success in forming and maintaining its cartel agreements.
At several universities and colleges, business professors receive higher salaries than professors in others fields. Why might this be the case?
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