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Illustrate what is Michelle's opportunity cost of producing potatoes? What is Michelle's opportunity cost of producing chickens? What is James' opportunity cost of producing potatoes? What is James' opportunity cost of producing chickens? Which person has an absolute advantage in which activities? Which person has a comparative?
Suppose that they are thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5 pounds of potatoes for 1 chicken, would they each be better off? Explain.
Illustrate what is the maximum and minimum subscription price. If the subscription price is set at $48 per share how many shares must be sold and how many rights will it take to buy one share.
Illustrate the entry barriers exist in the fast food industry. Compute the labor participation rate: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150.
Elucidate how events such as the World Trade Center and Pentagon attacks described in the case study affect the aggregate demand curve.
Calculate the cross-price elasticity of demand. Given the elasticity you calculated, did it make sense for supermarket to raise its price.
graph these events and evalute the magnitude of the reduction in wages for civilian workers as a whole. Do you concur with Professor Pessimist.
In current decades, women have worked more hours in paid jobs also fewer hours in up paid housework.
Illustrate what is the value of consumer surplus. Illustrate what is the value of the deadweight loss created by this monopoly.
Use a short-run Phillips curve to Explicate why the inflation rate may decrease over the course of 2009. Under Illustrate what circumstances might the inflation rate not decrease during 2009.
An existing company is considering expanding into a new product line that will use the same factory as its existing products.
Consider the following Demand equation that represents Demand for goods to your company produces q=100-2p. Total cost of production is cq. Given to your company's objective is to maximize profit
Elucidate how a temporary decrease in the U.S. money supply affects the money and FOREX markets. Label your short-run equilibrium point B and your long-run equilibrium point.
This might be interpreted as an upward shift in the consumption function. How does this shift affect investment also the interest rate.
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