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Are the following statements true or false? Explain in each case. a. “Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods.” b. “Certain very talented people have a comparative in everything they do.” c. “If a certain trade is good for one person, it can’t be good for the other one” d. “If a certain trade is good for one person, it is always good for the other one.” e. “If trade is good for a country, it must be good for everyone in the country.” 5. Explain each of the following statements using supply-and-demand diagrams. a. “When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the country.” b. (When the weather turns warm in New England every summer, the price of hotel rooms in Caribbean resorts plummets.” c. “When a war breaks out in the Middle East, the price of gasoline rises, and the price of used Cadillac falls.”
Although firm expects the order to be of 6 units, determine the minimum average cost of the firm with these different order sizes.
Further assume that they are not able to ‘collude' on price and quantity of premium digital channel subscriptions to sell. How much profit will each firm earn when this market reaches Nash equilibrium.
Illustrate what is the equilibrium price of tickets to the event. Calculate the price elasticity of demand at the equilibrium price.
How do the instruments of contraction monetary policy work in principle.
Explore in particular how the two companies respond to the macroeconomic conditions in terms of their.
the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500. What is the average total cost.
Does the patent system encourage duplicative efforts solely for the chance to be first.
Explain how do efficiency techniques differ in short- versus long-run when attempting to maximize profits. Illustrate what specific incentives are used in your workplace to promote efficiency.
Find out the Nash equilibrium prices of the procedures at the hospitals. find out the profit maximizing monopoly prices of the procedure at each hospital.
Construct a response to the Federal Reserve actions aimed at lowering long-term interest rates
What are some methods for improving the financing of the U.S. health care system. Are these methods realistic and achievable? Justify your answer with solid reasoning and appropriate references.
The united states exports a substantial amount of scrap iron and steel to Japan and other countries. Explain Why do some US users of scrap iron and steel support a prohibtion on these exports
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