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Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why?
The government is considering a policy to reduce air pollution by restricting the use of "dirty" fuels by factories. In deciding whether to implement the policy, how, if at all, should the likely effects of the policy on real GDP be taken into acc..
Your firm sells a very popular children's game. As the manager, you have received information that another firm is thinking about introducing a similar game. You have the following facts:
Can you please explain the profit maximizing decision the perfectly competitive firm makes in the short run and describe why this firm can make profits in the short run, but profits aren't possible in the long run.
Oligopoly, Monopolistic Competition,and the Factors of Production - Cooperation between the two prisoners in the prisoners' dilemmagame is difficult to maintain
Professor Michael Porters generic strategy options for competing are the differentiation approach and cost leadership approach. The first involves competing by having the better product and second by having lower cost that ones competitors. Relate..
This result proposes that private parties (consumers and producers) can solve the problem of externalities on their own. A tax imposed on imports is called:
Show graphically how regulating the value of a monopolist can both increase quantity and lower price.
In the competitive market at a price of $50 and cost function of C=50+5Q2 find out the maximum profit? Show how the solution was reached.
Write down a short memo to Ralph Sampson describing the analysis that the company should do before it makes this decision and any other considerations that would affect decision.
The U.S. is in recession and, at last report, GDP was shrinking at a rate of 1% per year. The unemployment rate is rising and now stands at 7%. In recent months, the rate of inflation has been holding steady and is increasing at an annual rate ..
1 -List one industry that is an example of a perfectly competitve industry and one that is an example of a monopoly. 2-Explain and discuss why these industries are examples of perfect competition and a monopoly using the characterstics of these ind..
Why is the long-run aggregate supple curve vertical Explain the shape of the short run aggregate supply curve. Why is the short-run curve relatively flat to the left of the full-employment output and realively steep to the right
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