Advantage in producing a particular good , Microeconomics

Assignment Help:

1.      How can a nation and its producers determine whether or not it has a comparative advantage in producing a particular good or service?

a

780_quantity chart.png

2.  The above figure shows the market for the three moving companies in a small nation. If the movers act as perfect competitors, what is the price per mile and the number of miles per year? If the movers collude and act as a single monopoly, what is the price per mile and the number of lines per year?

3.  a. "The marginal rate of substitution of the good measured along the x-axis increases as a consumer moves downward along an indifference curve." Is the previous statement correct or not?

b. Describe the consumer equilibrium in the indifference curve/budget line model.

 

 

 


Related Discussions:- Advantage in producing a particular good

Demand and supply, Dance fans switches away from Dance music to R&B music A...

Dance fans switches away from Dance music to R&B music AND the price of MP3 players increases

Oligopoly, cartels model of collusive oligopoly

cartels model of collusive oligopoly

Find the marginal products of capital and labour, A farmer produces maize a...

A farmer produces maize according to the following production function Q m = AK 1/3 L 2/3 Where Q m is output of maize, A = land, K = capital and L = labour Given that

Positive and normative statement, differentiate between normative and posit...

differentiate between normative and positive statements in economics with the help of a statement

Oligopoly, Oligopoly and its properties

Oligopoly and its properties

Consumer preferences, Consumer Preferences Indifference curves represen...

Consumer Preferences Indifference curves represent all the combinations of market baskets which provide the same level of contentment to the person. Consumer Preferences

Assignment, Illustrate and discuss the impliction of various market structu...

Illustrate and discuss the impliction of various market structures(competitive and non-competitive)

Ols, Which assumption of Classic OLS does this model violate?

Which assumption of Classic OLS does this model violate?

Short run costs, A film studio in Hollywood produces movies according to t...

A film studio in Hollywood produces movies according to the function q = F(K;L) = (2=100)K^0.5L^0.5 In the short run, capital (studios, gear) is xed at a level of 100. It costs $

Rate law, The reaction of nitrogen dioxide with fluorine 2 NO2 + F2 2 NO2F...

The reaction of nitrogen dioxide with fluorine 2 NO2 + F2 2 NO2F is first order in NO2 and first order in F2. Complete the rate law for this reaction in the box below. Use the f

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd