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Tom is stuck with his friends on an island that uses coconuts for currency, but they recently discovered Wilson’s Island nearby. Tom’s Island agrees to make only one transaction with Wilson’s Island: It sells a fishing boat to Wilson’s for 15 coconuts. Answer the following questions, assuming that yearly consumption on Tom’s Island equals 500 coconuts, and domestic investments in huts and farm equipment equals 150 coconuts. Instructions: Enter your answers as whole numbers. a. What are net exports for Tom’s Island? coconuts. b. What is the total national savings for Tom’s Island? coconuts. c. Suppose Tom’s Island imports a volleyball net from Wilson’s Island for 5 coconuts. What is the total national savings now? coconuts. d. Now Tom purchases 1 coconut tree on Wilson's Island at a cost of 10 coconuts. What is the balance of payments? (Hint: A coconut tree produces coconuts like a factory produces goods.) coconuts. I got the answers to A, B, and C, I just need help with D!
Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service's rescue teams to locate those lost or in trouble in the wilderness. How will this affect the costs that the Forest Service incurs? (Ch 20 Ind..
Have you thought about starting your own business? What opportunities seem attractive? What type of financial resources and personal skills would you need to launch a new business? How would you obtain these financial skills and personal resources?
Evalute one opportunity for Kuddler Fine Foods that requires a business management decision.
Assume the equilibrium quantity is 10M of automotive wiper blades at an equilibrium price of $2 per blade. If the government imposes a limit of 8M wiper blades for the private sector in order to support an increased need for rubber in classified oper..
If the entry barrier is removed consumers will be better off because consumers will enjoy greater consumer surplus. Explain.
Suppose the airline industry consists of two firms, A and B. These two firms engage in Cournot competition with each other over a certain route for which inverse demand is P(Q) = 1000 − Q with Q = qA + qB. Solve for the Cournot equilibrium price. Sup..
According to Coontz, what is most distinctive about the current period in history in the western world compared to most others in terms of the role of marriage in society?
In a competitive market the current price is $5. The typical firm in the market has ATC = $5.50 and AVC = $4.50.
Explain why globalization is good for the United States. What are the drawbacks of globalization for our economy? We run huge trade imbalances with two countries. Explain the cause of the imbalances. What is the economist's case for free trade?
Elucidate the relationship between MC and AVC that causes MAC to intercept AVC at AVC lowest point with economics.
Explore one of the sophisticated pricing techniques covered in this topic and provide an example of how it is used. What are some constraints that may limit the ability of firms to use these techniques?
The Pretty Paper Company has joined a cartel of paper producers. Under the rules of the cartel, Pretty Paper will produce 1,500 packs of paper and sell them for $5 a pack. The members of the cartel watch each other to see if anyone is cheating. Expla..
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