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If a scale economy is the dominant technological factor defining or establishing comparative advantage, then the underlying or establishing comparative advantage, then the underlying facts explaining why a particular country dominates world markets in some product may be pure chance, or historical accident. Explain, and compare this with your answer you would give for the Heckscher-Ohlin model of comparative advantage.
Jason enjoys DVDs and spy novels and spends $60 a month on them. The price of a DVD is $20 and the price of a spy novel is $10. a. What is Jason's real income in terms of spy novel b. What is the relative price of a DVD
Give at least three explanations of why economic reasoning would argue that this is to be expected.
Quantity of pizzas demanded soared he following week from 1 pie an hour to 100 pies an hour. Illustrate what was the price elasticity of demand for Domino's pizza.
Expectation the industry has for you is that you will research also write down relevant economic white papers for the pre-orientation of future deployed employees.
Two goals of monetary strategy in the United States are price stability and full employment. Explain with the help of the appropriate graphs.
Assuming that the beekeeper gets that amount, what range of payments will the farmer accept (Remember that negative payments are also possible.) Answer the same questions for the fifth day.
Dana's Doorsteps (DD) is a monopolist in the doorstep industry. Its cost is C= 10Q and demand is P = 30- Q.
Suppose two identical firms produce widgets and they are the only firms in the market. Find out the Stackleberg Equilibrium.
The Yankees have determined that there are 3-groups of purchaser for their tickets. They have determined that the price elasticity of demand for group one is -1.02,
Use the line drawing tool to draw a line showing the relationship between the number of deliveries (on the horizontal axis) and your total cost (on the vertical axis). Draw the lnie between zero and 20 delieries. Label this line 'Cost'.
Explain why is the "1 free" free to the buyer but not to society. At which point if any should the government regulate such promotions like these.
Illustrate the position of US economy over the next couple of years using aggregate demand and supply curves if these expectations are to be realized.
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