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Some people against trade will argue that "trade makes workers become unemployment". ONLY based on H-O model, do you agree or disagree that "in thelong run, trade makes workers become unemployment". Why?
Adam Smith's idea of the "invisible hand" tries to convey the idea that while there are free markets and people conduct their economic affairs in their own best interests,
An analyst is trying to determine the net social benefits generated by the city's public swimming pool. At the current admission price of $1.00, 400 individuals visit the pool annually. The total cost of the pool is $800 annually. Thus, the pool r..
What is the equation of exchange? Use the equation of exchange to determine by how much the price level increases if the economy is at full employment, velocity is constant, and the money supply increases by 7.6%.
Describe the process/approach a perfectly competitive firm uses in determining it profit-maximizing level of output AND be sure to explain why the firm doesn’t have to establish a profit maximizing selling price for its product. Be specific in your a..
The U.S. government is considering a pouch to lease oil rights inside of a monument, but will only allow it if it passes the compensation test. The forest service estimates the marginal benefit curve of park acres to visitors as MB = 300-3Q. The p..
(a) Calculate: (i) the cost of an order for 40,000 units (ii) the price of one unit of Item A in dollars at an exchange rate of £1 = $1.40. Manufacturer M also makes Item B, at a rate of 1,750 units per day. (b) Calculate how many whole days will be ..
To complete this activity, you will first need to access the following web sites and research historical inflation rates and money growth data
Compute all meaningful price, income, and cross elasticity coefficients.
Specify and explain the typical shapes of marginal-benefit and marginal-cost curves. How are these curves used to determine the optimal allocation of resources to a particular product? If current output is such that marginal cost exceeds marginal ..
What is the responsiveness of the quantity demanded of a product to a change in the prices of other products
A firm has Total Costs (TC) of $12,000 over the next three months (TOTAL for the 3 months - not per month), of which $8,000 are fixed costs (TFC) for rent on its lease that cannot be broken. If it stays in business over those months, then the firm..
Identify also explain the different functions performed in the electricity supply sector by several different types of electric utilities in these markets.
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