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Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and the United Kingdom has 20 workers.
Draw the PPF for the United States.
Suppose the international relative price of a ton of steel is 2.5. Draw the world price line.
Show that the United States is better off under trade compared to Autarky with the aid of indifference curves.
Show the amount the United States will export and import.
What would be the real wage of the workers in the two countries?
The company's engineer estimated that the production of the new product has a 88% learning curve applied to labor required, and the time to complete the first unit was 54 labor hours. Assume the time required to complete the 10th unit and the competi..
If the demand for a good is elastic with respect to its price, then a
Sam bought a car for $40,000 at “0” percent for 60 months. The financing was done through the financial arm of the car company. If he had paid cash for the car he could have gotten the car for $34,000. Determine the interest rate that he is paying on..
A firm’s total cost function is TC = 2q^2 + 5q +10 . The firm is a price taker and the market price for its product is $25. How many should it produce to maximize profit? How much profit?
The federal government and the state governments constitute the U.S. legal system. This system is based on the legal system of
Country (A) bubble was obvious. During the mid-2000s, it went from being a country that specialized in flowers and iron and ore smelting to a country that specialized in global finance. Country (A) biggest banks grew to 10 times the size of their eco..
In searching for global markets to enter, illustrate what are some criteria that Rollerblade should use to select countries to enter and illustrate what three or four countries meet se criteria best and are most likely candidates.
Which of the following is TRUE of the European Union's cap-and-trade program?
Explain how will the increase in unemployment benefits affect output and the price level in the short run and in the medium run.
Who gets scarce resources in a market economy?
In a situation of first-mover advantage, a strategic move would be to:
List all of the possible outcomes under each of the strategies. What is the expected number of delivered (unbroken) eggs under eachstrategy.
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