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What does the Heckscher-Ohlin theory postulate? Which force do Heckscher and Ohlin identify as the basic determinant of comparative advantage and trade?
The staff economist at the utilities commission estimates the demand and supply curves for pay telephone service as follows: D: Q = 1600 - 2400P S: Q = 200 + 3200P where P is the price of a pay telephone call, and Q is the number of pay telephone ..
in what ways have these firms been affected?
Suppose that the demand for labor in an economy is Ld = 100 10W, where W = wage in dollars per hour and L = number of workers. The labor supply of native workers is 50 million, and it is perfectly inelastic. Suppose that this economy experiences a..
In a month, Samantha consumes the quantity of lobster dinners so that her marginal utility from a lobster dinner is 500 units. The price of a lobster dinner is $25. She also is consuming the quantity of spaghetti dinners so that its marginal utili..
Would such an agreement be an equilibrium?
The widget industry in Springfield is competitive, with numerous buyers and sellers. Consumers don't differentiate among the various brands of widgets (no product differentiation). The industry demand curve is given by: Qd = 998 - 5Pw + 4 Y - 6Pg
ASM International, an Australian steel company, claims that a savings of 40% of the cost of stainless steel threaded bar can be achieved by replacing machine threads with precision weld depositions. A U.S. manufacturer of rock bolts and grout-in f..
Which of the reasons for the growth of MNCs do you think are the primary reasons for the developments of multinationals in the following industries?
John has a weekly endowment of 140 dollars that he spends on buying games (G) and music cds (M). The price of each game is 30 dollars, the price of each cd is 20 dollars. He can buy any amount of the two goods that satisfies the budget
Complete the following table, where L is units of labor, Q is units of output, and MP is the marginal product of labor.a. At what level of labor input do the marginal returns to labor begin to diminish b. What is the average variable cost when Q = 2..
Suppose a country has a money demand function ( M/ P)^d = kY, where k is a constant parameter. The money supply grows by 12 per year, and real income grows by 4 percent per year.What is the average inflation rate
You are a monopolist selling bowties for dogs. If B is the number of bowties, you have a total cost given by C=(B^2)/2 and a Marginal cost given by MC=B. The market for bowties is characterized by an inverse demand curve of P=90-B.
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