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Q. Suppose when Russia opens to trade which introduced automobiles, a capital-intensive good.
a. According to the Heckscher-Ohlin theorem is Russia labor-abundant or capital-abundant? Briefly explain.
b. What is the impact of opening trade on the real wage in Russia?
c. What is the impact of opening trade on the real rental on capital?
d. Which group (capital owner or labor) would support policies to limit free trade? Briefly explain.
Howard Bowen is a large-scale cotton grower. The land as well as machinery he owns has a current market value of $4 million.
Outline reasons why the marginal revenue product differs between workers in different jobs.
Assuming sum-of-years digits depreciation, what book value will Model-I have after two years.
Assuming that all buyers received the credit, estimate the own cost elasticity of demand as well as well as own cost elasticity of supply.
A pharmaceutical firm faces monthly demands in the U.S. and Mexican markets for one of its patented drugs.
A woman managing a photocopy establishment for $25,000.00 per year decides to open her own duplicating place.
Managerial economics and should include other criteria such as social responsibility and ethics. Remember to cite your authority and be careful not to plaigerize.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
Discuss the Social Security System, current status and future outlook. Be thorough and focus on the economic considerations. Cite at least 6 sources.
If the average income in the town increases to 15, solve for the new equilibrium Quantity and equilibrium Pb.
find an identical output for each firm that maximizes joint profits.
By what percentage would GDP be boosted if the value of the services of stay-at-home spouses were included in GDP
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