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State the conditions under which a nation can gain from international trade in the context of both comparative and absolute advantage, and describe the benefits of international trade.
Prepare a 2 page paper using APA format discussing how the Coase Theorem provides an alternative to government regulation and provision of services. How is the definition of private property a critical part of this analysis?
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 output, marginal cost, averagecost, price and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level.
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
Define and explain the relationship between total revenue, average revenue, and marginal revenue for a monopolist. What is monopoly profit Should a monopolist produce quantities of product greater than which would maximize profiits
Write in words (or in mathematical symbols) the formula for the coefficient of price elasticity of demand. What are the numbers or ranges of numbers that correspond to (1) perfectly elastic demand; (2) elastic demand? Give a realistic example o..
How does your analysis of VMP change if the employer is a monopolist producer of its output but a price-taker in the labor market?
A profit maximizing monopolist is earning a positive economic profit. The wage it pays its workers rises. How will the firms choice of Price and Quanity change in response to the wage increase. Use a diagram in your answer.
According to Keynes, in order to get the economy out of a recession, the government should plan for a budget deficit encourage firms to export to other nations, thereby jump-starting the economy follow an expansionary monetary policyfollow a contract..
You have a 0.35 probaability that you can turn your current $15,000 into $50,000 and a 0.65 probability that fierce competition will drive you to ruin, losing all your money.
Government decreases current tax, while holding government spending in the present and future constant. (a) How does this effect aggregate output, employment and the real wage What is the multiplier and how does it differ from the government expen..
how many units of each product should she buy in order to maximize her utility. Show this utility maximiz- ing combination combination of Pepsi and Coke on the graph. how would her consumption and utility maximizing bundle of Coke and Pepsi change..
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