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Q1. what is michelle's opportunity cost of producing potatoes what is michelle's cost of producing chickens illustrate what is james cost of producing potatoes illustrate what is james opportunity cost of producing chickens which person has an absolute advantage in which activities which person has a comparative.
Q2. Suppose that Country A and Country B currently (in 2011) have identical PPF's. However, Country A devotes only 5% of its resources to the production of capital goods, whereas Country B devotes 30% of its resources to the production of capital goods. Which country is likely to experience more rapid economic growth in the future? If you were to draw the two nations' PPF's on the same graph, which would be farther to the right? (i.e., which country's PPF would lie farther out from the origin)?
Elucidate is it good for the economy to have more competitive markets.
Hardwood Cutters presents seasoned as well split fireplace logs to consumers in Toledo, Ohio. The low-cost provider company is of firewood in market with fixed costs.
Illustrate what does the area EBCD represent. Provide a full explanation of the concept that is shown in that area.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Calculate Max's marginal utility from snorkeling at each number of hours per day. Does Max's marginal utility from snorkeling obey the principle of diminishing marginal utility.
To determine which of the output levels represents a macroeconomic equilibrium.
What is the unregulated competitive equilibrium. What is the unregulated monopoly equilibrium.
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
Does the coffee marketplace meet all six conditions of a perfectly competitive marketplace.
Elucidate using the example of multiple equilibria in the labour market. Illustrate diagrammatically
What point on the graph is most likely to result from the introduction of technological improvements in bicycle assembly, and successful publicity campaigns by the government on the virtues of bicycling to work.
Assume you have a production technology to can be characterized by a learning curve.
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