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Q. Suppose there are 2 Economies. In each economy there are 2 outputs, bacon and eggs, which are produced with perfectly substitutable inputs. In Economy A 10 Eggs or 4 bacons can be produced with complete specialization. In Economy B 3 bacons and 12 eggs can be produced with complete specialization. Which economy has the absolute advantage in bacon? In eggs? Which economy has the comparative advantage in bacon? In Eggs? If each economy specialized in its comparative advantage, what range of prices would bacon trade at in terms of eggs?
Suppose that a mysterious in bovine infertility decreases both the population of dairy cows and the population of beef cattle by 50%.
The 2 firms form a cartel & arrange to split total industry profits equally. Under this cartel arrangement, they will maximize joint profits.
Some economists argue that only unanticipated increases in the money supply can affect real GDP.
Evaluate the financial performance of the company using the information providedin scenario. Consider all the key drivers of performance, such as company profit or loss.
Indicate if GDP is affected, under what category and what happens to GDP Oklahoma cleans up after a devastating tornado.
Assume that this is a pass/fail assignment, where the passing grade is low enough that one person can produce a passing paper.
What is the confidence interval for the proportion of households represented at a town meeting. Survey of households in a small town showed that in 850 of 1,200 sampled households.
To find and explain the Nash equilibria of a widespread form game can I use the equivalent normal form game to do that.
An increase in the number of varieties of a good regarded as a gain from trade. Can you think of economic disadvantages associated with greater product variety.
How much is the uniform annual revenue in years 2 through 5 to achieve economic equivalence if the company decides to use MARR.
On the same day, the San Francisco Chronicle had an article with the headline "Sharp Drop in Bay Area Home Sales"
Explain a way that your family interactsin factor market and a way that it interactsin products market. Discuss how circular flow relates to current economic situations.
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