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The production possibilities for the United States and Saudi Arabia are given in Problem 1. Suppose now that each country specializes in the good in which it has the comparative advantage, and the two countries trade. Also assume that for each country the value of imports must equal the value of exports. A. What is the total quantity of oil produced? What is the total quantity of cars produced? And for the United States to consume 400 million barrels of oil and 5 million cars? Cars and the United States consumes 500 million barrels of oil and 6 million cars. How many barrels of oil does the United States import? How many cars does the United States export? Suppose a car costs $10,000 on the world market. How much, then, does a barrel of oil cost on the world market?
If a second McDonald's franchise, Mac Junior, was to move into Obscure City. Elucidate what is the market price that would prevail at equilibrium in a Cournot oligopoly.
While virtually anyone with a degree in college chemistry could replicate the industry's formula, due to the relatively high cost, Semi-Salt has decided not to apply for a patent.
Illustrate what does the theory of purchasing power parity predict will happen to the value of Japanese yen in item of dollars
Assume that the marketplace for sweaters is perfectly competitive. The future value of a deposit in a savings account will be larger
Using the numbers that you calculated above, explain the relationship between the marginal cost and average variable cost.
ABC Company is considering a private placement of equity with XYZ Insurance Company.
Estimated regression equation for which quantifies the demand for Widget
Suppose that all the necessary conditions exist for the realization of equal wage rates in every market of labor.
Which factors of globalization is involving quality. How might globalization involve your product or service also organization as it tries to achieve quality.
Explain how will my family's consumption of omelets change this week and why. Chickens by the way do not respond to published prices in their decision as to lay eggs.
Find a current article about one or more of the macro variables for a nation of your choosing, such as GDP, employment, inflation, or international trade.
Using the formula for β^1 and β^0, show what will happen to the estimator of the slope and intercept in the SLR model if y is multiplied by the constant k, and at the same time x is multiplied by the constant m.
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