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Suppose at current factor prices a country’s manufactures use 60 hours of labor for each acre of land and food is produced using only fifteen hours of labor per acre of land. If the economy’s total resources are 1800 hours of labor and 180 acres of land, how much labor and land are allocated to manufacture and food production respectively? If the labor supply grows 50%, what happens to the allocation?
Historically the gold standard was the anchor for nearly every traded currency. Explain how the go Id standard worked as nations traded domestically and internationally at fixed exchange rates.
What are the components of aggregate expenditure. What determines the slope of the aggregate expenditure line.
The "dual mandate" refers to the:
tasks1. clearly state which e-commerce business model you have chosen. for each chosen website report the business name
Suppose a monopolist can purchase Labor at a price w = 1 and can purchase Capital at a price r = 9. The monopolist’s production function is given by Q = L^1/2(K^1/2). The demand facing the monopolist is given by P = 78 – 6Q. What is the Monopolist’s ..
Many factors related to social class and social influence may ultimately impact one’s decision to purchase the new Hyundai luxury brand. Choose one of these factors and explain why you believe it would impact the luxury car purchase decision.
q1. how short is the short-run production period?enlighten cost advantage of a firm operating at constant returns to
According to Transparency International (2014) Why do you think the U.S. does not have a perfect score? What does it need to do to improve its corruption perception index?
Elucidate how should Microsoft market long distance telephone services in the new wireless telecommunications devices which also include Internet portals.
The company's settlement obligations are expected to raise its average total cost per pack by about $60. Illustrate what effect will this have on its optimal price.
Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios. Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has a comparat..
Define the correlation between two random variables X and Y. What does the correlation coefficient measure?
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