Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. A worker in Rhode Island can produce 1 pound of corn in 15 minutes and 1 pound of shucked oysters in 10 minutes. A worker in South Carolina can produce 1 pound of corn in 20 minutes and 1 pound of shucked oysters in 60 minutes. Which state’s worker has an absolute advantage in corn and which state’s worker has an absolute advantage in shucked oysters? Which state has a comparative advantage in corn and which state has a comparative advantage in shucked oysters? At what price will trade occur between the two states for corn and at what price for oysters? Explain your answers.
2. We discussed the possibility that a start up firm in San Francisco plans to 3-D print Rhinoceros horns that are indistinguishable from real horns. Assume they are able to produce these horns cheaply. If successful, what will happen to the market price and quantity of horns in the market? (real and 3-D printed are sold in one market for “horns”) Explain your answer thoroughly.
3. Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run. If the price of heating oil rises from $1.80 to $2.20 per gallon, what happens to the quantity of heating oil demanded in the short run? In the long run? (Use the midpoint method in your calculations) Why might this elasticity depend on the time horizon?
4. If there is a sudden improvement in the production of heroin and cold medication (the production of both products are improved by the same amount) how will the changes in the market differ? Provide a detailed economic analysis.
Illustrate what is the present macroeconomic situation (e.g. worrying about inflation also/or recession) in the U.S.
q1. research comes out that supports that drinking more green tea helps to keep you healthy. ceteris paribus what would
q.according to the agreement achieved by the administration and the congress were there a breach of the debt ceiling
Bud Owen operates Bud's Package Store in a small college town. Bud sells six packs for off-premises consumption.
q.you are the ceo of a new line of clothing. one of the items you manufacture is in high demand for youths 12-17 are
If excess profits are taxed away, where will oil companies get the money to fund new exploration and development of oil properties? Does it matter if these price increases are demand or supply induced?
Profits associated with polluting for Friedman Inc. are π = 40Q - 2Q2, where Q = pollution emitted (in tons), and profits are measured in dollars.
What is the impact on the long run adjustment due to this condition. First, look at the impact of the market and then the single firm. What does it do to economic profits or losses, then what happens in the market.
Economists have explained why tax rebates have failed to boost consumption spending. One reason for this failure is that many people who received the rebates used them to pay off debts instead of spending funds on goods and services. Why households t..
The largest labor union in the United States represents approximately
Which of the subsiquent statements is (are) generally true assuming a mound shaped distribution.
More than 85% of McDonald's restaurants around the world are owned by independent franchisees.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd