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According to foundation of economics by Robin Bade, in chapter page 80 the multiple choice question in table 1
1. Table 1 shows the PPF of an island community. Choose the best statement.
2. Table 1 shows the PPF of an island community. Choose the best statement. of an island community.
3. Table 1 shows the PPF of an island community. this community's opportunity cost of producing 1 pound of fish.
4. Table 1 shows the PPF of an island community. choose the best statement.
5. Mary makes 10 pies and 20 cakes a day and her opportunity cost of producing a cake is 2 pies. Tim makes 20 pies and 10 cakes a day and his opportunity cost of producing a cake is 4 pies. If Mary and Tim specialize in producing the goos in which they a comparative advantage.
Community’s opportunity cost of producing 1 pound of fish.
3. Table 1 shows the PPF
Elucidate why does the government create monopoly power via its patent system, when elsewhere it spends millions trying to prevent the emergence of or regulate monopoly power.
The U.S. money supply (M1) at the beginning of 2000 was $1,148 billion broken down as follows: $523 billion in currency, $8 billion in traveler's checks, and $616 billion in checking deposits. Suppose the Fed decide to reduce the money supply by incr..
If industries collude, Illustrate what will be monopoly cost (optimal cost P*), total output of two industries (Q= q1 + q2) and total profits of two industries.
Suppose that the cost of a unit of capital is r and the price of a unit of labor is w and the level of output is y. Write down the long-run total cost as a function of w, r, and y.
Can the researcher say with a 0.05 level of significance that the proportion of children not completing primary school is more than 1%.
Elucidate proponets of free market systems argue that free enterprise leads to more efficient production and better responses to changing consumers preferences.
Explain how much money will Pat have available to spend on her new computer after 1 year.
Why is there such a difference in Asia’s share of global real GDP, depending on whether the computation uses purchasing power, parities, or exchange rates? Why is Asia’s “economic size” so much smaller on a per capita basis than on al absolute basis?
Labor Supply. Catholic priests take a vow of chastity, forgoing marriage and intimate non-marital relationships. This question relates to the article posted on Angel
John advertises his used car for $5,000 in the newspaper. He would be willing to sell his car for as little as $4,000. Bill values the car at $4,800 but offers $4,500 for it and John accepts. How much producer surplus is created by this trade? How mu..
Plot the average total cost, average variable cost, and marginal cost curves for a single firm (remember that values for marginal cost are plotted at the midpoint of the respective intervals) What is the firm's supply curve? How many chairs would the..
Suppose that a person invest 3000$ at 10% per year, compounded annually, for 8 years. (a) will this effectively protect the purchasing power of the original principal, given an annual inflation rate 8%? If so by how much
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