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Q. Assume which at current factor cost s cloth is produced using 40 hours of labor for each acre of land, and food is produced using only 8 hours of labor per acre of land.
a. Assume which the economy's total resources are 320 hours of labor and 20 acres of land. Use a diagram and some algebra to find out the allocation of resources. (It doesn't necessarily have to be to scale.)
b. Say there is a bumper crops in births for some astrological reason, and the labor force increases 10% from 320 hours to 352 hours. Amend the diagram and use similar algebra to figure out Illustrate what happens again.
What, how and for who apply to the following the economic decision. Should the company makes its own spare parts or buy them from an outside vendor.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
The bank and pays interest at the market interest rate of 4 percent. Is it correct to say that the cost to Mary of living in her house is less than the cost to John.
Do you think it is a good idea for the Russian government to take the measure of encouraging foreign carmakers to build factories in Russia.
If each economy specialized in its comparative advantage, what range of prices would bacon trade at in terms of eggs.
It was reported that the price of kerosene heaters skyrocketed and the number purchased increased during this time.
What are the factors that affect pay differentials? How does each factor increase or decrease relative wages?
What is the difference between the index number for the year you were born and the Consumer Price Index for January of 2012.
Explain with the concept of optimization and a graph, the circumstances under which a waste site could be made "too clean".
Each customer purchases their smoothie at the store where the total cost, i.e. price of smoothie plus travel cost, is the lowest.
Among different market structures, which one do you believe provides the highest possible return for a new company as well as why.
Do protectionist policies benefit producers, consumers, workers, or the government
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