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If the cost of rare earth (a resource for producing smartphones) increases, then supply for Samsung smartphones will _____, and quantity will _____.
shift left, decrease
shift right, decrease
shift left, increase
shift right, increase
If Brad works in the labor market, he can earn a wage of $500 per hour, while Angelina can earn $600 per hour. Considering comparative advantage, which of the two should specialize in the labor market? Explain.
What amount of profit is the firm earning? Is this firm in a short-run or long-run equilibrium? Explain
To make the case that one country has a comparative advantage over another country in the construction of a given good or service,
Since education yields private market returns, which are fully captured by the person who makes the investment, the market will provide the optimal level of education and the govern- ment should not intervene.
Would company benefit by advertising in this perfectly competitive market. What would happen to price of toothpaste, would it rise or fall. What would happen to profits company makers.
Explain the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes. Do you agree or disagree with this view.
bill operates a boat rental business in a competitive industry. he owns 10 boats and pays 1000 per month on the loan
Illustrate what is the difference between absolute advantage and comparative advantage. If a country has an absolute advantage in both goods.
Consider a market for online movie rentals. The market supply curve slopes upward, the market demand curve slopes downward, and the equilibrium rental price equals $3.50. Consider each of the following events, and discuss the effects they will have o..
q.pham can work as many or as few hours as she wants at the college bookstore for 9 per hour. but due to her hectic
q1. why may vertically integrated delivery systems lead to lower productions costs? why may these systems lead to
Limited partnership arrangements alleviate which traditional problem associated with real estate investments.
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