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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
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.
construct your own version of a production possibility curve and use it to explain scarcity, opportunity cost and choice
Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
Moving Average Methods: Under this methods the moving average to the sales of the past years is computed. The computed moving average is taken as forecast for the next year or peri
Production with Two Variable Inputs * There is relationship between productivity and production. * Long run production K& L are variable. * Isoquants analyze and compa
assingnment on production cost
Earth is completely surrounded by thick envelope of gases called atmosphere. Atmosphere is sub divided into different layers depending upon the distance from the sea level. The
sequential game
I have an article about 40 pages long that''s needs to be read and then a discussion question. The post has to be 35-40 lines. I will have to send/ attach the article
Cost in the Short Run Marginal Cost (or MC) is the cost of expanding output by one unit. As fixed costs have no impact on marginal cost, it can be given as: Average Total
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