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Vietnam and Ecuador both produce shrimp and wheat. Vietnam can produce 80 thousand pounds of shrimp or 40 thousand bushels of wheat in a year. Ecuador can produce 60 thousand pounds of shrimp or 20 thousand bushels of wheat in a year. Ecuador’s opportunity cost of producing one bushel of wheat is equal to pounds of shrimp. Vietnam’s opportunity cost of producing one bushel of wheat is equal to pounds of shrimp. The two countries decide to specialize and trade with each other. The country that produces wheat will sell one bushel of wheat for no less than pounds of shrimp. The other country will pay no more than pounds of shrimp for the one bushel of wheat. Enter whole numbers.
Your firm faces considerable revenue uncertainty because you have to negotiate contracts with several customers. Use Excel to set up a decision tree for your profit forecast (it does not matter whether costs or revenues come first). How many possible..
What is the duopoly Cournot equilibrium - that is, the quantities produced by each firm - if the market demand function is q(p) = 1000 - 1000p, and each firm has a cost of $0.28 per unit?
Discuss how and why the effectiveness of fiscal policy depends upon the slope of the LM curve. Hint: Discuss how the behavioral sensitivities (c1, and c2) determines the LM slope, and how changing c1, and c2 influences the fiscal policy effectiveness..
Now, the government realizes aforementioned situation that the one firm controls the industry. Economic officer from the government asks you to fix this problem. Provide your solution by applying the price regulation scheme and you have to give me a ..
Describe your understanding of auditing in healthcare organization and why we audit and do monitoring activities? Discuss the Audit processes in the healthcare Industry
Explain how will La Nina affect the price of Chilean wine. Assuming LaNina does not impact the California wine producing region, how will La Nina impact the market for Californian wine.
In the early 1880’s cigarette-rolling machinery became available. Prior to this all rolling was done by hand. The machines dramatically cut the cost of rolling cigarettes. But they were not fully automatic—they needed the permanent presence of an ope..
Software developers at Acme systems, Inc., have developed an iPhone App that analyzes an individual’s golf swing. Should the developers attempt to de-bug the program completely or not? Use the basic principles of economics and a simple graph to suppo..
A late-night news report says the president of a local bank is about to be arrested for embezzling money from the bank at which he works. This causes worried depositors to line up in front of the bank the next morning wanting to withdraw all of their..
Research another example of a reimbursement-related contract dispute between the U.S. government and a contractor. Then create a short case study report, including the following topics: A summary of the reason for and nature of the contract.
Suppose the restaurant’s cost function for shrimp balls is C(Q) = 2500 + Q + Q2, and the marginal cost curve is therefore MC(Q) = 1 + 2Q. What is the variable cost function? What is the average variable cost function? What is the average cost functio..
Are today's loan officers and insurance agents racist? Or is the way that they calculate risk colored by race? What, according to Gregory Squires, is the mortgage gap? How do lenders, insurers, and providers of financial services benefit by denying m..
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