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Determine the direction of comparative advantage and the limits to the relative wage rate A and B are the countries, the products are S and T and A has s=6 and T=2, and B has S=15 and T=12
Determine the price, income and cross price elasticity of demand and how would you characterize the demand for haddock?
what are the trade offs involved between current and future consumption/production? In the absence of government intervention, would we expect the consumers/producers to make optimal intertemporal decisions?
Explain how economics is used as a social science and as a policy tool and write a two-page essay in which you address the issues.
Give a specific example for each ( US Companies ). Which one is better market from the stand point of producers? Which one is better market on the stand point of consumers?
When thinking about the theory of the firm, shirking, and principle-agent problems, we can find analogous situations in our personal lives. Make a Power Point presentation (for sharing with the class) two personal situations to illuminate this con..
Determine how a policy will change social welfare, changes in individual utility for high-income individuals are weighted more heavily.
Which of the following is NOT an explanation for the revival in the growth of productivity starting in the mid 1990s? A)Cell phones and wireless Internet access increase worker flexibility. B)Internet use has increased the efficiency of how firms b..
Describe an example of a particular health care good or service at the beginning of your posting and to what extent do the providers of the good or service influence consumers' decisions?
XYZ Corporation faces a horizontal demand curve and the market price is given to be $15. Compute the shutdown price of operations for Corporation XYZ.
Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential area How does the assignment of property rights af..
An interesting example of strategic behavior comes from the 1997 article regarding Microsoft's investment in Apple (New Straits Times, 1997). The article is included in Required Readings list.
Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket?
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