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Q. Each seller has two types of goods; good A and good B. You and or three sellers can set your price for good A, price for good B and price for bundle that consists of goods A + B. Notice that ways and computer interface are colour coded and make use of fact that yellow and blue make green. You do not incur any cost to produce goods you sell and thus your profit equals selling price if you make a sell. Or three sellers do not have any costs either. If I am selling, who is buying?
Illustrate what is the difference between absolute advantage and comparative advantage. If a country has an absolute advantage in both goods.
Assuming migration is unimpeded and costless, which of the following statements is most accurate about the effect of immigration on wages in both the origin and destination nations?
A firm with a U-shaped average cost curve finds that its costs exceed its revenues when it sets price equal to marginal cost.
Illustrate what is the equilibrium cost of a car stereo also illustrate what is the equilibrium quantity of car stereos per day.
Under illustrate what circumstances should the debtor nation status of the United States (US) be a concern.
Which of the following statements best describes the concept of a binding price floor. Suppose that the equillibrium price of donuts is $1.00 per donut.
Suppose that survey measures of consumer confidence indicate a wave of pessimism is sweeping the country.
Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.
Briefly elucidate why magnification effect plays an important role in predicting where various groups in economy will support or oppose international trade.
Suppose that both countries are currently producing three pairs of boots and three shirts. Elucidate that both can be better off if they each specialize in producing one good and then engage in trade.
Assume the firm does enter the market and that, over time, increasing competition causes the price of telephones to fall to $35. Under these circumstances, what would be the firms optimal output, price and profit (or loss).
Budget line showing the various combinations of scores on the two exams that she can achieve with a total of 400 minutes of studying.
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