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The theory of comparative advantage predicts that athletes perform better when they specialize. Studies show that young athletes are increasingly focusing on a single sport. Do you think this is a good idea?
Yes, this is a good idea. According to the comparative advantage theory, unique products or firms producing better products at a lesser cost have comparative advantage over other firms. Likewise, if an athlete focuses on only a single sport, he will get better at it and will be at a comparatively advantageous position as compared to others who try out all the sports.
Are there any disadvantages to children and teenagers specializing and playing just a single sport?
Trademark law does not allow the holder to sell a trademark independent of the good to which it is attached. Thus, Coca-Cola cannot sell its use of the trademark "Coke" to another producer of cola syrup that mark may be sold only with the syrup produ..
What are the advantages and disadvantages of a currency union? Describe the theory of optimum currency areas?
To maximize? profit, the firm chooses the quantity of output that generates the largest:
Describe a national model of universal healthcare coverage. Compare the model's methods of funding for healthcare in the United States. Identify which one you think is best by discussing access and quality detail.
What happens to the equilibrium price and quantity in a competitive market under following conditions?
Suppose Qd=-23*P+670, Qs=30*P+12 for home and Qd*=-23*P+402, Qs*=30*P+34 for foreign. Further suppose that the importing country place a tariff of 0.23 on the product. What is the price paid by the importing country to two decimal places?
an economy has a total amount of 100 units of a good to allocate between two persons-amanda and britney. amandas
Traditionally we look at the distribution of consumption as a fairness concern, not an efficiency concern. Why is that the case? Is there a perspective from which income distribution looks like a public good?
Consider the market for corn in the United States. Suppose that the mandated percentage of ethanol in gasoline is increased and at the same time a corn blight destroys a significant portion of the corn crop. Using a supply and demand diagram, show wh..
If a market is perfectly competitive and is in long-run equilibrium, which of the following conditions does not hold?
Discuss the primary manner in which these concepts impact the world of health care economics health demand and supply, elasticity, resources, health measures.
Learning Objectives for Henry Hazlitt’s Economics in One Lesson #1. In your own words, state “the Lesson” of Hazlitt’s Economics in One Lesson and explain how it applies in the following instances. Include at least one policy argument in favor of the..
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