Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose South Korea can produce 100 computer chips with 10 hours of labor input and 50 bed linens with 6 hours of labor input. The US can produce 100 computer chips with 8 hours of labor input and 50 bed linens with 4 hours of labor input.
a) What is the opportunity cost of producing 100 computer chips for South Korea?
b) What is the opportunity cost of producing 50 bed linens for South Korea?
c) What is the opportunity cost of producing 100 computer chips for the US?
d) What is the opportunity cost of producing 50 bed linens for the US?
e) Using comparative advantage, which country should import bed linens?Why?
looking at the chart below suggest the kinds of variables that could be used to represent the following factors which
What is rent seeking How much, potentially, might this monopolist spend on rent seeking activities Assume that they will earn the same profit you calculated in part c forever, and that the interest rate is 5%.
the demand for haddock has been estimated as log q ab log pc log i d log pm where q quantity p price per pound i
For many corporations, a major portion of the cost of production is fixed in the short run. Should these very large fixed costs be ignored when the executives are making output and pricing decisions?
The RAND (short for "research and development") Corporation is a think tank located on 15 prime acres of seaside property in the center of Santa Monica, California. RAND purchased the land for its offices from the city in 1952 for $250,000.
The goal of all capitalists is to dismiss the competition and gain market power. a) Explain why that might be hurtful for the economy, though not for everybody, clearly stating who wins and who loses in the presence of monopolies.
Sam currently earns $30,000 per year. the governments is considering a policy that would increase sam's income by 12%, but raise all prices by 8%. what is sam's compensating variation for the proposed policy? can you compute it without knowing his..
Create and explain a production possibilities frontier for an economy that produces milk and cookies. Determine what happens to this frontier if disease kills half of the economy's cow population?
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?
1. why does the assumption of independence of risks matter in the examples of insurance? what would happen to premiums
How does the federal reserve have a high degree of instrument independence? If it has a specific mandate from Congress to achieve "maximum employment and low, stable prices," then how does the Fed have goal independence?
Determine whether demand is elastic, inelastic, or unit elastic with respect to its own price and whether Good Y is a substitute or a complement with respect to Good X.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd