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Examine the first diagram showing the monthly production possibility frontier for the Tivoli and the monthly production possibility frontier for the Frivoli.
In A.D. 100 the Frivoli discover a new technique for
a. Which tribe has the comparative advantage in spaghetti production?
b. Which tribe has the comparative advantage in meatball production?
Making meatballs that doubles the quantity of meatballs they can produce each month. Examine the new monthly production possibility frontier for the Frivoli.
c. After the innovation, which tribe now has an absolute advantage in producing meatballs?
d. Which tribe now has an absolute advantage in producing spaghetti?
e. Which has the comparative advantage in meatball production?
q1. if one defines incremental cost as the change in total cost resulting from a decision and incremental revenue as
Modeling what is a Market. In modern usage, a commodity is anything of use that is available for purchase and sale in standardized form. Participants: Who trades with whom
Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable.
What is mission of NYTHESE. Firms must pay a fee to list their shares for sale on NYTHESE. What would be fee for a firm with 5 million shares common outstanding.
Ear Us production function is Q=KL. The company over the years uses input rates of 60 and 75 for capital and labour respectively. The price of capital is $40 and labour is $35 per ear phone. If $58000 is allocated to production, what is the maximum o..
The difference between the cost to produce the CDs and the price you paid for them spending $30 on two new CDs spending $30 on dinner and a movie with your friends.
Touchie MacFeelie's production function is 0.1J1/2L3/4 where J is the number of old jokes used and L is the number of hours of cartoonist's labour. He is stuck with 900 old jokes for which he paid $6 each. If the wage rate for cartoonists is $5 per h..
A multi concept restaurant incorporates two or more restaurants, typically chains, under one roof. What do these numbers imply for decision of when to open a shared facility versus two separate facilities.
Evaluate the institutionalist economists. Determine which economist you feel made the most significant contribution to economic theory. Justify your selection.
Once upon a time there was a sacred temple hidden in the deep mountains, in which believers gathered to exercise meditation to become saints. The believers sat in a circle facing each other while meditating during the day, and retired to their separa..
In uncertain times, especially when the economy is experiencing a downturn, consumer spending tends to decline also savings rates tend to rise
consider a homogeneous product industry with inverse market demand given by p 1100 - 2q there is currently one
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