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Leontief's paradox is an example of testing a trade model, namely the Heckscher-Ohlin model, using actual observations on imports and exports. If Leontief had observed that the amount of labor needed per $1 million of U.S. exports was 100 person-years instead of 182 in Figure 4.1 (page 101), would he have reached the same conclusion? Briefly explain your answer.
To begin your answer, please take a clear position. For example, state "Yes, Leontief would have reached the same conclusion if he dad observed that the amount of labor needed to per $1 million of US exports was 100 person-years instead of 182," or "No, Leontief would not have reached the same conclusion if he dad observed that the amount of labor needed to per $1 million of US exports was 100 person-years instead of 182." Then, briefly explain your conclusion.
Calculate consumer surplus as the sum of the difference between the marginal utility and the price for each slice up to the last slice sold. Calculate producer surplus as the sum of the difference between price and marginal cost for each slice.
The demand function for a good is given as Q = 10 – 2P, where Q = quantity demanded and P = the market price per unit of the good. The cost function is given as C = 8 + 0.5Q where C = total cost. If P = $3, how much profit is earned?
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What are some resources that can minimize the risks of investments?
Which typically tries to obtain views from particular groups and then "weights" the results by the prevalence in the population.
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A product earns an annual gross revenues of $90,000, the variable costs is $60. The fixed cost are $30,000 and the product is sell for $90. The quantity of product sold last year was $1000. The annual profit is most nearly:
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Suppose Stock A has had a mean price of $6.58 per share with a standard deviation of $1.88, while Stock B has had a mean price of $10.57 per
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