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Draw a two-country, two product trade model in which production in both industries is subject to increasing returns to scale. That is, draw diagrams for two countries in which the possibilities-possibilities frontier reflects increasing returns to scale. Then make additional assumptions (clearly stated) and show how trade between the two countries affects well-being in both countries. Does trade under increasing returns to scale still make both countries better off, as the constant-returns-to-scale H-O model shows? Answer this question using both your diagram and an accompanying verbal explanation.
Opportunity cost is associated with choosing a particular decision that is measured by the forgone benefits of the next-best alternative. What example would you pose to explain this?
In some country, the rate of inflation is expected to increase from 2 percent to 5 percent and people fear that the increase will be permanent if the central bank does not take action. In both diagram and text, indicate clearly whether you deal with ..
Suppose a firm has a constant marginal cost of $10. The current price of the product is $25, and at that price, is it estimated that the price elasticity of demand is -3.0. Is the firm charging the optimal price for the product?
Unemployment occurs even during periods when the economy is growing. An increase in wages will shift the supply curve up and to the left. A decrease in population would shift the demand curve to the left. An increase in demand will cause the equilibr..
Illustrate what would happen to GDP if a significant number of house-spouses who were previously stay home to care for their children began taking jobs and placing their children in day care.
Suppose that a security costs $3,000 today and pays off some amount b in one year. Suppose that b is uncertain according to the following table of probabilities: b: $3,000 $3,300 $3,600 $3,900 $4,200 Probability: 0.1 0.2 0.3 0.2 0.2. Calculate the ex..
Are legalized forms of gambling, such as state-operated lotteries, consistent with a continuing public policy against the enforcement of gambling contracts? Why or why not? Please discuss and support your comments using legal reasoning and terminolog..
Show long run effect on In Phillips curve diagram. If expectations are rational and increase in money growth is announced, what happens to In short run.
q1. jaes building a corporation which follows short-run cost functionq3 - 10q2 36q.a. illustrate what is the level of
Compute average fixed cost, average variable cost, and average total cost for each quantity. What is the efficient scale of the painting company.
Do a thorough online search for a Journal article that addresses Trends in Corporate Sustainability Reporting. Your paper can focus on a specific country such as the United States, United Kingdom, the European Union, the Developing Countries, Japan, ..
Explain briefly the various parts of the circular flow diagram representing the interactions between households and firms in a simple economy.
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