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Problem: Why do some countries specialize in the production and trade of certain commodities? How does the concept of comparative advantage explain China's production of commodities such as toys, shoes, plates, glasses, and so forth, and the United States' production of commodities such as airplanes, cars, and chemicals?
This is an interesting look at the trend of the "gig economy" in sourcing talent. Have you heard of this/experienced this? In what ways might you apply.
Include also a discussion of: Which market form would benefit you the producer the most and Which market form would benefit consumers the most.
If the price elasticity of demand for good Y is – 0.75, when there is a 30 percent increase in price, we can conclude that quantity demanded
Define "externalities" as they relate to the price of goods and services, and examine how they can distort market forces of supply and demand, detailing.
Will a pooling equilibrium be possible after the tax-and-subsidy program? Justify your answer on a version of the Rothschild-Stiglitz diagram.
1. Which of the following is the best example of a government sanctioned monopoly? a. a public utility company. b. a k-12 public education school district. c. a newly patented drug. d. Microsoft's Windows products. e. All are very good examples of su..
Provide support from the Learning Resources.
What was GDP in year 1 - what was GDP in year 2?
How do you find the level of abatement that maximizes net benefits? (Multiple answers allowed) Select one or more:
In the graph here you will draw two different demand curves. 1. Use the infinite line too to draw a demand curve that is perfectly elastic at a price of $50. Label this curve D-Elastic.2. Use the infinite line tool to draw a demand curve that is less..
1. How is globalization affecting state sovereignty? 2. Has Globalization Altered the Role of the State? Justify your answer.
Write down some similarities and differences between monopolies and oligopolies. How would you classify Microsoft? How would you classify the power industry in your area?
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