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Explain the winners and losers from trade in the Ricardian, Specifc Factor, and Heckscher-Ohlin trade models?
If Robinson Crusoe can, either shoot 5-wild geese or catch 15-fish, on average, for every hour of labour effort. i.e. opportunity cost of shooting one wild goose is three fish.
Suppose you have a sample of body weights from a population of males above 20 years of age. Your sample size is 121 men. Body weights are approximately normally distributed. Your sample mean is 190 pounds, and your estimated population standard devia..
Consider the construction of handmade rugs moreover assembly line robots in Canada and India.
The XYZ Company is a porfit-maximizing firm with a monopoly in the production of UIC sweatshirts. The firm sells UIC sweatshirts for $25 each. We can conclude, therefore, that XYZ Company is producing at a level of output at which: Assume a monopolis..
How is a bond's current yield calculated? Why is current yield a more accurate approximation of yield to maturity for a long-term bond than for a short-term bond?
Assume that the supply of labor to some industry is inelastic at Es, and that the industry has a standard, negatively sloped labor-demand curve. Depict the equilibrium. Now suppose that the government mandates that every employer must pay each worker..
Lilly is at Times Square in New York selling watches. she is one of over 100 watch suppliers in central Manattan, and there are naturally many potential buyers that stroll downtown every day, Furthermore, for the average person, Lilly watches are not..
Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. How are the efficiency and equity effects of introducing a voucher system likely to differ across these two areas? Relate yo..
The demand for football tickets is Q = 360 – 10P and the supply of football tickets is Q= 20P. The government levies a per-ticket tax of $4, which is paid by consumers. Calculate the after-tax price paid by consumers. Calculate the gross price receiv..
Evaluate a combined cycle power plant on the basis of the PW method when the MARR is 12% per year. Pertinent cost data are as follows: (5.3) Power Plant (thousands of $) Investment cost $13,000 Useful life 15 years Market value (EOY 15) $3,000 Annual..
The existence of non pecuniary benefits associated with education causes estimated rates of return to education to _______ the actual rate of return for a typical individual.
Cartman and Kyle are castaways on an island and spend their days picking papayas and mangos. Cartman has a comparative advantage in picking papayas. Kyle has a comparative advantage in picking mangos. Use the infinite line tool to draw the linear pro..
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