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State the conditions under which a nation can gain from international trade in the context of both comparative and absolute advantage, and describe the benefits of international trade.
A fundamental characteristic of oligopolies is the tendency for them to follow price leadership and to act in harmony in the setting of prices, while monopolistic competitors will find it possible to earn only normal profits in the long run
In what ways does economics class relates to the real world? How does knowledge gained from economics teaching been valuable in helping somone understand or evaluate events or policies?
Go to the Bureau of Economic Analysis on the Department of Commerce's Web site, and look up the latest new release for real GDP. Where are we in the business cycle What is the real GDP today What is the nominal GDP todayWhat is the difference between..
1. What are the benefits/challenges of being an entrepreneur and the benefits/challenges of working for someone else Which do you prefer 2. Of these, which do you think the US has in abundance
The second modelassumes that owners of these assets wish to earn the highestpossible returns, and it indicates that the market prices of theseassets provide an indication of the percentage of votes that eachcandidate will actually receive on the d..
During the recession in the early 1990s, retailers observed that consumers were spending a lot more time searching for good bargains than ever before, which led the retailers to lower prices.
Governments worldwide are turning to "protectionism" to cope with economic problems, imposing tariffs and subsidies on foreign goods and restrictions/incentives on their own firms to keep jobs at home. What are the strategic implications of this t..
The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, What is the most effective way of decreasing the quantity of drugs consumed
In the article, several people in this industry complain about thinner profit margins. Can the retail market survive with the current level of profits Do you expect there will be entry of more firms into the retail market
profit = (quantity of output) x (price - average total cost), marginal revenue = (change in total revenue)/(quantity of output).
Compute the mean and standard deviation of the damage in any year and determine the expected value of X, E(X), and expected value of Y, E(Y).
Which of the following statements conforms to utility theory? In which market structure model may firms earn economic profits in the long run?
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