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Take a closer look at our local economy and pick a good or a service that you believe America has a comparative advantage in producing. Discuss the factors that you believe give America such advantage. In other words, why do we trade X commodity and not Y commodity?
Also, what are the benefits (or harms) of trade surplus (exporting more than importing) to the local economy? Is there a link between economic growth (increase in output level or GDP) and trade? If so, how?
Market demand for oranges is Q = 1000 − 2P , where Q = n ∗ Qf + Qd and Q is the total quantity, Qf is the quantity supplied by a single competitive fringe firm and Qd is the quantity supply by the dominant firms. Calculate the dominant firm’s residua..
The multiplier effect of a change in government purchases Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save the remaining $0.30. The marginal propensity to consume (MPC) for this econo..
It has been estimated that the price elasticity for cigarettes is 0.164. Assuming there are currently no taxes on cigarettes, to reduce cigarette purchases 5%, government would need to tax cigarettes enough t.:
Defend the Process of developing a mission statement. Why do you feel that this process is necessary and complementary to strategic management? Support you answer with at least two examples.
A monopoly is a market in which one firm sells a good or service that has no close substitutes and a barrier blocks the entry of new firms. In addition, as noted in “Are Microsoft’s Prices Too High?", Microsoft’s prices are too high in the sense that..
Suppose a monopolistic competitor in long-run equilibrium has a constant marginal cost of $6 and faces the demand curve given in the following table: What will be the monopolistic competitor’s average fixed cost at the output it chooses? Why is the l..
A state highway department is trying to decide whether it should “hot-patch” a short section of an existing county road or resurface it. If the hot-patch method is used, approximately 300 cubic meters of material would be required at a cost of $700 p..
Select one The analysis of agriculture, textiles, and clothing in the EU, the United States, and Japan supports the proposition that older sectors of the economy are most protected, particularly in cases where the nation has lost a substantial part o..
Discuss some of the principal historical developments in the origins and evolution of white collar crime law. Which factors promoted and which factors hindered the development of white collar crime law in the United States? How does the dialectical p..
College Copy Shop (CCS) compiles, copies, and sells reading materials to students. The compilations are prepared on the instructions of professors, who indicate which parts of which publications should be included for their students. Which type of in..
Discuss Daniel Kahneman’s Mckinsey interview, and the message he delivers in regards to the risk involved in using inside information (one of the persistent problems in decision theory – with numerous recent examples, including the Financial Crash of..
_____ focuses on how individuals manage a global business.
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