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Consider a small economy in the context of the (perfectly) competitive market environment. Consider the case when PD<PW, where PD is the domestic equilibrium price of good x that prevails without trade (in autarky), and PW is the world price of good x. Which of the following statements are true? Check all that apply.
A. Under free trade, the country imports good x.
b. Consumer surplus falls from opening to free trade.
c. Producer surplus rises from opening to free trade.
d. Total surplus is the same in autarky and with free trade.
Q1. There are two firms (firm 1 and 2) competing in quantity. Firm 1 and 2 set their quantities supplied, q1 and q2, respectively. The production costs are zero.
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A farmer's hens lay 1000eggs/day which he sells 10 cent each, his sole source of income. His utility function is U = M**1/2 (square root of M)
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Identify one modern technology and think about its development; In what ways has this technology changed the way you live from both a positive and negative.
Evaluate the financial performance of the company using the information provided in the scenario. Consider all the key drivers of performance, such as company profit or loss for both the short term and long term and how each factor influences mana..
Addresses how your chosen organization determines what quantity of labor to demand and what events could shift the demand and supply of that labor.
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