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Bill
Oranges/ Apples
20/ 0
10/ 10
0/ 20
Brian
10/ 0
5 /15
0/ 30
Explain who has a comparative advantage in the production of oranges and who has the advantage in the production of apples. (Show all math involved in your answer)
Emily sold lemonade on Tuesday for $.50 a cup and she sold 100 cups. On Thursday she raised the price to $1 a cup and sold 50 cups. The demand for lemonade is
Which input bundle represents efficient production of 100 units of output if the rental paid to capital is $25 and the wage paid to labor is $50? Round any decimals to the nearest hundredth. Derive the firm's cost function using the rental and wa..
The present value of the gain from employing the new factory must be less or equal to $50 million and the rate of return from the new factory must be greater than 7%.
Draw the world relative supply curve RS for good X. Label all the axes (relative price of good X on the vertical axis and world output of x relative to y on the horizontal axis) and the relevant points.
Suppose that the cost of living increases, thereby reducing the purchasing power of your income. If your money wage doesn't increase, you may work more hours because of this cost-of-living increase. Is this response predominantly an income effect ..
If the price of a mouse pad is $7.00, describe the situation in the market. Explain how market equilibrium is restored. What is the market equilibrium if a fall in the price of a computer changes the quantity demanded of mouse pads by 20 a week at e..
Barriers to entry are crucial to the existence of long-run profits, but they cannot guarantee the existence of profits
A new item that is manufactured and consumed only in United States and France is about to be launched. In the United States, the following demand and supply curves are appropriate,
Compare the work and formulas for computation of Expected Value, Absolute Risk Measurement, and Relative Risk for both projects.
In any city at any time, some of the stock of usable office space is vacant. This vacant office space is unemployed capital. How would you explain this phenomenon Is it a social problem
why is monopolistic competition inefficient suppose that you counted the higher price the consumer pays for the monoplistically comptetive firm's product surplus, would that change the conclusion regarding the efficiency of monopolistic competitio..
Imagine that you were the president of a merging county that is trying to reduce the number of its imports. Explain one (1) protectionist policy that you would utilize to help domestic industry over all.
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