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On one set axes, sketch a community indifference curve tangent to the fairly flat section of a concave production frontier. on a second set of axes, sketch another (different) community indifference curve tangent to the fairly steep portion of another (different) concave production frontier.
a) Draw in the line showing the equilibrium-relative commodity price in isolation in each nation. b) Which is the commodity of comparative advantage for each nation? c) Under what (unusual) condition would there be no such thing as comparative advantage or disadvantage between the two nations?
Examine how an organizations in each market structure like perfect competition, monopoly and monopolistic competition maximize profits.
A change in the price of good causes a movement along the same demand curve whereas a change in any other determinant of demand causes a shift in the demand curve. Discuss the factors that would affect the demand for higher education (increase or to ..
An externality is a) a cost or benefit resulting from some activity or transaction that is imposed or bestowed on parties outside the activity or transaction b) the total cost to society of producing an additional unit of a good or service c) th..
In short run, assume that all the costs [except film rental and concessions] at a theater are fixed, and that each theater can seat five hundred people per day, no more.
Determine what do the laws of supply and demand forecast would be the result of an immediate removal of rent control in terms of price of rental housing and quantity available?
Firm XYZ measured its MP of labor curve to be the following: MP = 4000 - 2L where L is the number of hours of labor hired per day. XYZ produces gadgets that are sold for $20 each and is able to hire workers for $10 per hour. How many hours of labo..
Ongoing United States struggles in Iraq and Afghanistan, political unrest in South America, and civil wars in Africa have driven crude oil values up for the last many years.
If the price of processor chips used in manufacturing personalcomputers decrease, what will happen in the market for personal computers How will the equilibrium price and equilibrium quantity of personal computers change
what less conventional monetary policy tools might a central bank use to stimulate the economy How do these tools work In what way is central banking in the euro-zone area different from or similar to the Federal Reserve System
Suppose you currently live and work in cleveland, earning a salary of 70,000 per year and spending 30,000 for housing. you just heard that you will be transferred to a city in california where housing is 55% more expensive. In negotiating a new sa..
Joe enjoys fishing & goes out about 20 times per year. One day, Sara told him that fishing is too expensive of a hobby. She thinks he should stop going because she calculated that it costs about %28.75 for every fish he catches because he usually ..
Are there any current subsidy or welfare issues that are being duscussed or addressed in parliament?
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