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Suppose labor is the only cost of production and labor coefficients (hours of labor required per unit of output) in MACONDO and KRYPTON for each good are as follows:
GOOD
MACONDO
KRYPTON
A
15
5
B
10
C
2
D
1
E
4
If these are the only two nations who trade, and consumers demand all five goods (the only ones that exist), explain what you can conclude about the comparative advantage of MACONDO.
b) Within what limits must the ratio of wages in KRYPTON to wages in MACONDO settle when trade is possible? If that ratio turns out to be 2, what goods will each country export and import?
Taiwan Electronics produces 3 models of the CB radios, A, B, and C-Employ the transportation model to find out the best production schedule.
President Obama pushed his massive fiscal stimulus package of $787 through the Congress and later passed by the House and Senate, whose centerpiece was spending most of this stimulus funds
Using the exchange rates and prices in the tables above:
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The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours Per week (Q T ) supplied to the market.
The demand function for VCRs has been estimated to be Qv = 123 - 1.7Pt + 46 Pm - 2.1Pv -5M, where Qv is the quantity of VCRs,Pt is the price of a videocassette, pmis the price of a movie, Pv is the price of a VCR, and M is income.
Cindy gains utility from consumption and leisure. The most leisure she can consume in a week is 168 hours.
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An essay on Market imperfection associated with negative externalities.
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