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In country X land is relatively abundant and labor is relatively scarce. In the short run after trade opens which of the following groups will not gain?
A. Workers in the Agircultural center
B. Landlords in the Agircultural center
C. Landlords in the cloth making sector
D. None of the above
Suppose RCA presses records using two inputs, labor (L) and capital (K). Their production function is Q=(1/4)KL. The price of capital is $16 and the price of labor is $36. What is RCA’s long-run total cost function? What is RCA’s long-run average cos..
What do you think Indonesia's best interests were served by limiting Cemex's FDI in the country.
The market demand for another product you are considering selling is Q(p) = 100 ? (1)p and as the 2. only producer of this product your production costs would be C(Q) = 40Q. What is the market price elasticity of demand at the optimal quantity?
What is the relationship between a perfectly competitive firm's MRP curve for an input and that firm's demand curve for that input?
On her 25th birthday a young female engineer decides to start saving toward building up a retirement fund that pays 6% annual interest, compounded monthly (market interest rate). If she plans to save by making 480 equal quarterly deposits, what shoul..
Define the economic principle of opportunity cost and explain whether spending 17.9% of gdp is too much or too little to spend on healthcare.
What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed? Should the Fed remain independent from political authority or should the President and Congress have a say in ..
When a society under allocates resources to the construction of a good or service, it indicates
What effect, if any, would each of the following have on the short-run average (ATC, AFC, AVC) and marginal costs of an auto dealership:
As a result of the recession that began in 2007 and continued into 2009, the unemployment rate rose to as high as 10 percent. By the time of the congressional elections of 2010, the economic recovery was under way, but the unemployment rate was still..
Suppose that the price of oil (and gasoline) continues to decline. According to our discussion, what impact will this have on the economies of the U.S. states?
Many elderly people have Social Security payments as their sole source of income. Because of this, there have been attempts to adjust these payments so as to keep up with changing prices. Write down the algebraic representation of this consumer's bud..
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