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Traditional free-trade theories are based on six crucial assumptions, which may or may not be valid for developing nations (or for developed nations for that matter). What are these crucial assumptions, and how might they be violated in the real world of international trade?
an economy is faced by the exhaustion of an important natural resource at a time when it is introducing improved technology.using a diagram how these events will affect the economy production possibility curve
If in addition to interest rate costs, there is a cost of storing the wine that equals 2% of the wine's value each year, for how many years would you hold the wine before selling?
Find the equilibrium price and quantity
Brad and Angelina are married with kids. Suppose Brad's at-home productivity as a parent is $25 and Angelina's is $40. a. Who has an absolute advantage in the home How do you know b. If brad works in the labor market, he can earn a wage of $500p..
A Graybar motor costs $7000 and has an electrical efficiency of 89%. A Blueball motor costs $6000 and has 85% efficiency. Neither motor would have any salvage value, since the cost to remove it would equal its scrap value.
Draw an iso-cost line for this firm, showing combinations of L and K that cost $6 and another iso-cost line showing combinations that cost $12. What are the slopes of these iso-cost lines Sketch the production isoquant depicting 10 units of output.
A travel company has hired a management consulting company to analyze demand in 26 regional markets for one of its major products: a guided tour to a particular country. The equation for the quantity demanded is
a firm produces digital watches on a single production line serviced during one daily shift. The total output of watches depends directly on the number of labor hours employed on the line. Maximum capacity of the line is 120,000 watches per month.
Would this have been the result of a change in demand or a change in the quantity demanded? Would you recommend the flat fee or the fee per bag? Why?
assume that all wages and prices are completely and immediately flexible. if the growth rate of the money supply is 5
Find the smallest and largest values of children in the sample. What is the average of children? Does any woman have exactly the average number of children?
If a concrete sidewalk costs $28,000 and lasts only 3 years versus a 9-year life for the rubber side- walks, what rate of return does this represent?
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