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Q1. Illustrate what are the basic steps in solving for Walras Equilibrium with two consumers and two commodities, given endowments and preferences for both consumers?
Q2. Discuss Explain how international factor movements can be seen as a substitute for international trade. Explain how they might be seen as complements? Explain how might trade barriers (or lack of trade barriers) be related to this question?
Q3. The price of good 1 doubles, the price of good2 becomes 8 times larger and income becomes 4 times larger. Discuss the effects of the changes on the budget line and make clear assumptions.
q1. 1. what might be the goal of a museum? of a firm? what are the basic steps in all types of decision making
newsprint the paper used for newspapers is produced in a perfectly competitive industry. each identical firm has a
Use a production possibilities frontier to illustrate the production options. Be sure to label your drawing. Identify a point that is efficient.
Indicate two public policies that would be appropriate for addressing this situation. Explain their impact on your graph.
Illustrate what happens if the consumer faces a borrowing constraint that prevents her from borrowing.
Identify ethical perspectives in the global organization.
Under free trade, Argentina exports beef. Its government imposes a tax t on exports. Draw and label a diagram to show what happens to Argentine beef consumption, production, exports, domestic prices, consumer and producer surplus
Also, 40% of cell phones are both Flashy and owned by Hipsters. Finally, if a cell phone is owned by a Granny, the probability of it being Dull is .98. What is the probability that a cell phone is both Dull and owned by a Hipster.
Consider what you have learned about the root causes, as identified by leading economic thinkers and policymakers.
She is now considering raising her prices by 20 percent to offset the increase in her monthly rent.
Explain how are poor infrastructure, lack of financial institutions and a sound money supply, low saving rate poor capital base.
Assume that the marginal product of labor is: MP=100-L, L is the number of workers hired. You can sell the product in the marketplace for $50 per unit, the wage rate for labor is $100. How many workers should I hire.
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