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A small industrialized country initially has no trading links with a large, but closed, cen- trally-planned economy that shares a border. Wages per hour for skilled and unskilled work- ers are $25 and $12, respectively, in the industrialized economy. The centrally-planned economy suddenly undergoes a peaceful revolution and the border with its industrial neigh- bor is completely opened to trade. In the former centrally-planned economy, skilled workers get paid $5 an hour and unskilled workers get paid $2 an hour. Productivity in the former centrally-planned economy is one-?fth that of the industrial country in all sectors and for all workers. What would factor price equalization imply happens to wages in the industrial country?
Calculate the firms profit or loss and compare the firms output price and the calculated average variable cost and average total cost.
the manager of the aerospace division of general aeronautics has estimated the price it can charge for providing
alchem l is the price leader in the polyglue market. all 10 other manufacturers follower f firms sell polyglue at the
question 1. define any key terms that you feel are important in answering the following question as they are defined in
suppose that a monopolistically competitive firm must build a production facility in order to produce a product.nbsp
But in the off-season, when the kids are back at school, one can find rooms for as little as $60 a night. Assume the average fixed cost of a room per night, including local government rates, insurance, taxes and depreciation, is $75.
How do countries use tariffs to increase revenues or protect industries - How do they affect exports?
Question 3: [5 points] Consider a Hotelling line of length 1 with firms currently located at 0.29 and 0.75. Prices for all firms are fixed at p. You are advising a third firm about where to locate on the line. What is the best location you can sugges..
suppose that there are two products clothing and soda. both brazil and the united states produce each product. brazil
hat is "human capital", why is it economically important and how is it created? Which is better: inflation or deflation
There is no paradox of savings (of thrift) in the medium run. Even in a liquidity trap, wage and price deflation will stimulate production and therefore real income
At the same time, the dollar depreciated. What is the connection? (Hint: The United States borrows mostly in dollars but has substantial foreign currency assets.)
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