How country a with comparative advantage in boot making

Assignment Help Microeconomics
Reference no: EM13186767

Explain how country A with comparative advantage in boot making and country B with comparative advantage in wine making can gain from trade with each other. Include in your explanation from where the gains are coming.

Reference no: EM13186767

Questions Cloud

Explain what is the silver ion concentration in a solution : What is the silver ion concentration in a solution prepared by mixing 373 mL of 0.366 M silver nitrate with 383 mL of 0.563 M sodium chromate?
Alpha helices are a kind of secondary structure in proteins : Alpha helices are a type of secondary structure in proteins. what is the length of a 53-kDa single-stranded alpha-helical protein segment?
Explain aqueous hydrochloric acid to form a water-soluble : How much A would have been extracted into ether if the orginal aqueous solution had been extracted once with a 500-mL portion of ether? What percentage of A would have been extracted by the ether?
State structural formula of the lewis-acid base complex : Give the structural formula of the lewis-acid base complex which consists of one mole of phenylmagnesium bromide and two moles of diethyl ether.
How country a with comparative advantage in boot making : Explain how country A with comparative advantage in boot making and country B with comparative advantage in wine making can gain from trade with each other. Include in your explanation from where the gains are coming.
State pentaerythritol with hexamethylene di-isocyanate : ethylene oxide polyol that has been generated from pentaerythritol with hexamethylene di-isocyanate, where the ratio of hydroxyl groups to isocyanate groups
What is a reasonable choice for the system and surroundings : Supposed you have a beaker of water that is being heated on a hot plate. If you are studying the amount of heat that is requred to change the water temperature by a certin amount. What is a reasonable choice for the system and surroundings?
What is the value of the marginal product of labor : The market price of the product is $10 per unit and the market wage rate is $8. Labor employed 4, total product 17 labor employed 5, total product 20 labor employed 6, total product 25 labor employed 7, total product 28 labor employed 8, total produc..
Examining crime scenes for the presence of washed-away blood : The chemical 5-amino-2,3-dihydro-1,4-phthalazinedione... better known as luminol, is used by forensic scientists in analyzing crime scenes for the presence of washed-away blood.

Reviews

Write a Review

Microeconomics Questions & Answers

  How should apple adjust it''s production and price

Suppose that Apple must pay a royalty on each mobile device that it produces. How should Apple adjust its production and price in response to the royalty?

  Economic effect of price floors

Assume the government sets an effective price floor in market for oranges and agrees to buy all oranges that go unsold at that price. The oranges bought by the government are discarded.

  Average total cost curve

A firm sells in a competitive market in which price is $10. Its marginal cost is 2 + .5Q. Find out the profit-maximizing level of output.

  Calculate medal shares for total medals won

Calculate medal shares for total medals won, for each country,  by year. The medal share for country in a year is the proportion of the   total number of medals awarded in that year's Olympics that is awarded to  the country. To calculate the me..

  Determine under what circumstance design a will be preferred

Consider the following two alternative designs. Design A has an initial cost of $300,000 and net annual revenues of $55,000; Design B had an initial investment of $450,000 and net annual revenues of $80,000. A 10% MARR was used over the 10-year pl..

  Total production will increase at a diminishing rate

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%.

  Exaggerate the firm''s profit or costs

what you must give up to get something; what you are willing to give up to get it. the amount of money that you pay on the margin; the amount of money that you receive on the margin. what you are willing to give up to get it; what you must give up to..

  How many spaghetti dinners should the firm make each day

How many spaghetti dinners should the firm make each day and what if the firm has avoidable fixed costs of $1562.50?

  When the price discrimination occurs

Price discrimination occurs when a.the supply of the product is elastic b.a product's average cost is greater than its average revenue c.a product's average cost is less than its average revenue d.differences in a product's price reflect differences ..

  Calculate the monthly consumer surplus

Calculate the monthly consumer surplus for each group before and after the rate increase. Your boss wants a measure of the losses to each group from the rate increase.

  Changes in isoquant and input prices

A nation has a fixed amount of Capital and Labor which lies on aggregate isoquant when all inputs are being used efficiently.

  Use first order conditions for profit maximisation

Use the first order conditions for profit maximisation to show that a monopolist will never produce on the inelastic portion of his demand curve.

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd