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Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why?
Describe a company you would like to start and determine which form of ownership would be most appropriate given your current financial status. Explain your rationale.
In what kind of market do you think your franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics which make it this type of firm?
Determine the least cost size and number of the milk processing plant using the equation and Derive the marginal cost for the two products 1&2 and show that it is a constant.
• Identify an industry that the Internet has transformed or destroyed. • Then think of a new industry that the Internet has created. • What are the reasons behind the changes
Canadian firms that buy machinery and equipment from US suppliers c.cross border shoppers from Canada who shop for goods in the US retired Canadians who live in Arizona and Florida during the winter months
a. complete the table above. you do not have to complete any cell with - in it. be careful calculating mc and mr note
Identify the market structure(s) for the products listed Is advertising is associated with the identified market structure(s). If so, explain why advertising and/or product differentiation is important to this particular market structure.
Yolanda owns an art factory in Palermo, Italy. She is thinking of expanding her exports of large-size paintings of Italian cityscapes. She has had little difficulty recruiting new artists to Palermo to work a 40-hour week in the factory.
1.sam smith owns an internet radio company that has subscribers in houston and dallas. the demand functions for the 2
1. consider a two period model. an agent gains utility from consumption today c1 and in the future c2 according to uc1
What is the size of the firm's profit. Suppose that the allocatively efficient output level in long-run equilibrium is 200 meals. Is the deadweight loss for this firm greater than or less than $60?
Under a welfare plan, poor people are given a lump-sum payment of $L. If they accept this welfare payment, they must pay half of anything they earn to the government as a tax. If they do not accept the welfare payment.
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