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Now suppose that the rest of the world has the same technology and pref- erences. In particular assume that the following Öxed coe¢ cient technology applies. Unit Capital Requirement 10 Good=Factor Unit Labor Requirement Food 20 Clothing 10 20 Assume there are 120 units of labor and 120 of capital at home and that the goods are consumed in a 1 to 1 ratio at all prices. 1. Can the autarky price of clothing relative to food be 1? 2. Suppose that this country was broken into two, Home and Foreign. Home got 70 L and 50 K and Foreign got 50 L and 70 K. Can the free trade price of clothing relative to food be 1? 3. How much is made of each good by each country under trade? 4. What if Home got 90 L and 30 K and Foreign got 90K and 30L? Can the free trade price of clothing relative to food be 1? 5. How much is made of each good by each country under trade? 6. Does trade always do everything that integration would?
The marginal cost of making a wedding cake is $200. In order to maximize profits, Laura should make more than 20 wedding cakes per month. make fewer than 20 wedding cakes per month.
a city government is considering increasing the capacity of the current waste-water treatment plant. the estimnated
On balance one would argue that our society is mixed on the question of allowing firms to operate with market power; we certainly don't permit unregulated monopolies from operating but we do have a lot of industries where firms are permitted to..
you have been asked by the payroll department to create a program that will calculate the weekly pay for the companies
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1. which of the following is a basic question for an economic system?a. for whom goods and services are produced.b.
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its product into basic and ultimate Vista editions
c300 0.80y - 125 i 150 g 250 x 115 x 125.05y using the original data compute the impact of a 50 decrease in taxes
suppose that the capital machines in a particular plant is fixed in the short run and is equal to k 2. thus the only
An article in Business Week warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to “ export its way out of trouble”.
describe an ethical dilemma and its importance and relevance. identify the various stakeholders and their
the world cup and its economic effect. this essay will talk about the 2014 world cup and about the advantages and
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