Reference no: EM13159933
1. To produce 100 bushels of wheat, Farmer A requires fewer inputs than does Farmer B. We can conclude that Farmer A has an absolute advantage over Farmer B in producing wheat.
2. If one producer is able to produce a good at a lower opportunity cost than some other producer, then the producer with the lower opportunity cost is said to have an absolute advantage in the production of that good.
3. An increase in the price of blue pens will increase both the equilibrium price and quantity in the market for black pens.
4. A decrease in the price of blueberries will decrease both the equilibrium price and quantity in the market for blueberry muffins.
5. If a t-shirt manufacturer supplies 1,000 t-shirts per week when the price of t-shirts is $10 and supplies 1,200 t-shirts per week when the price of t-shirts is $12, the price elasticity of supply is 2.
6. If we observe that when the price of chocolate decreases by 10%, quantity demanded increases by 25%, then the demand for chocolate is price elastic.
7. If a tax is imposed on the buyers of a product, then the tax burden will fall entirely on the buyers.
|
Bonus for exceeding the monthly sales goal
: Greg received a salary of $50,000 in 2010 from his employer, Green Construction Associates, Inc. In July 2010, Green gave each employee $2,500 as a bonus for exceeding the monthly sales goals. employee $2,500 as a bonus for exceeding the monthly s..
|
|
Explain the economic effect of tariffs
: Explain the economic effect of tariffs, nontariff barriers, and various forms of trade policies adopted by national governments.
|
|
State solubility is the concentration of unsaturated ions
: Which of the following is correct? A) Solubility is the concentration of unsaturated ions in solution. B) Ksp is the same as the solubility. C) Ksp is an equilibrium constant and solubility is the concentration of a saturated solution
|
|
Analyze the forms of aid to developing nations
: Analyze the forms of aid to developing nations and determine which have the greatest and least amount of impact on a country during a natural disaster.
|
|
Absolute advantage in the production of that good
: If one producer is able to produce a good at a lower opportunity cost than some other producer, then the producer with the lower opportunity cost is said to have an absolute advantage in the production of that good.
|
|
Find the total product and average product
: Find the total product, average product and marginal product for integer values of L from 1 to 9. Plot the total product on a graph and the average and marginal product on another as shown in class.
|
|
Consider a typical certification hierarchy
: Why might Bob still not trust that the certificate for Alice truly establishes Alice as the owner of the public key in the certificate?
|
|
Volume stays constant and conditions are at standard state
: Calculate the concentration of all ionic species at equilibrium after adding 1 g sodium acetate to 0.1 L of a 0.1 M solution of acetic acid. Assume volume stays constant and conditions are at standard state
|
|
What is the frequency of the dominant allele
: If the frequency of the homoxygous recessive genotype is .36, what is the frequency of the dominant allele?
|