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Assume that the production of one unit of cell phones in the US requires 20 units of resources, while the production of one unit of textiles uses 10 units of resources. Also assume the world price is 1 unit of cell phones = 4 units of textiles Please explain how the US benefits from specialization in cell phone production, and exchanging excess phones for textiles.
(Law of diminishing Marginal Utility) Some restaurants offer "all you can eat" meals. How is this practice related to diminishing marginal utility? What restrictions must the restaurant impose on the customer in order to make a profit?
One way to repay a $5000 loan would be to make four annual end-of-year payments of $ 1000 each, followed by a final payment at the end of the fifth year. Assuming an interest rate of 8%, how much would this final payment be?
q.why have generic drug companies been so successful? explain what political conditions also economic conditions would
If marginal utility is declining over a period of time during which the consumption of a good is occurring, If two goods have the same price, then
AppsAlot is a small company that develops a variety of apps for smart phones. Management desires to raise $10 million in funds to initiate and continue various projects. With that funding, they project an earnings (net of all expenses except capital ..
If you were a manager in a company that operates in many countries, what criteria would you use to determine whether an application should be developed as a global application or as a local application?
How would Foreign Direct Investment (FDI) cause an increase in Growth in Developing Countries (GDP)? Your two to three page response should focus on selecting and organizing.
Construct a demographic transition plot for your country with the birth rate, death rate, and population level all on the same graph over the period 1960—2010 (there may be missing data; connect points using straight line; put population on the right..
The given utility function is U= 100 Qt 0.5 Qc 0.5, the individual’s dual problem is to minimize E=Pt Qt +Pc Qc (show all the works and steps) What is the compensated demand function for Qt? What is income elasticity for good Qt? What is own price e..
In the table below, place each of the following item a to l in the correct box (notice that each item can be placed in ONLY ONE BOX). Congested toll roads. Knowledge. Fish in the ocean. National defense. Congested nontoll roads.
Why is a hypothetical "basket" of goods used to measure inflation? Suppose that the U.S. textile industry is competitive and there is no international trade in textiles. In long run equilibrium, the price per unit of cloth is $30. Describe the equili..
Suppose the production of electricity by a utility generates pollution that harms others. Suppose also that Coase bargaining can occur between the utility and the victims of pollution but that the utility has not been legally liable for the damages f..
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