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Which of the following is NOT a true statement regarding free trade?
a Every individual in a country gains short-term benefits from free trade.
b Free trade may stimulate economic growth through export sales.
c Free trade generally reduces the domestic prices of imports.
d Free trade promotes specialization and efficient production.
What price should the leader charge to drive all the small firms out of the market? Write the marginal revenue function of the dominant firm.
Angola economists are working on the country's figues. Find the (a) GDP deflator (b) Nominal GDP (c) Real GDP (d) what is the growth for Angolan GDP for 2013? If the 2013 price is $10, quantities = 50 million; While the year 2000, which is the base y..
Suppose an economy described by the Solow model has the production function Y= K1/2 (LE) 1/2 a. For this economy, determine an expression for output per effective worker, y=f(k) b. Use your answer to part (a) to solve for the steady-state value of y ..
A production possibilities curve is “bowed out,” or concave to the origin, because of:
How does Supply and Demand play a role in economic thinking? What factors influence economics that don't directly relate to it? How does public choice economics influence the market?
What are switching costs and what do they imply for pricing? Discuss three examples from the financial services industry showing how a marketer can take advantage of switching costs.
q.businesses have to make many financial decisions that have a direct impact on operations and the ability to
A watch manufacturer finds that at 1,000 units of output, its marginal costs are below average total costs. If it produces an additional watch, will its average total costs rise, fall, or stay the same?
AMS recently instituted an in-house recycling program. Profits of this program include not only profits to environment of recycling. Illustrate what level of Q maximizes profit of recycling.
An economic model and A good economic model
Is the law of diminishing returns impacted as a result of firms not hiring the best workers that may be available for positions within the firm or organization? Explain your answer.
As the number of firms in an oligopoly decreases:
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