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Suppose that in DanLand two goods can be produced: light bulbs and wires. It takes 3 hours to make a light bulb in DanLand and 4 hours to make a wire in DanLand. In YouLand two goods can be produced: light bulbs and wires. It takes 6 hours to make a light bulb in YouLand and 6 hours to make a wire in YouLand. If there are 800 labor hours available in both DanLand and YouLand show graphically each country’s clearly possible combinations of light bulbs and wires that can be made if the countries do not trade. You are supposed to show the graph in your discussion IP posting, it should be viewable in your posting without any clicking links, etc. In later discussion efforts you will be required to show a graphic in a discussion posting. Which country has a comparative advantage in which good? Fully explain why. If the countries can trade, what is the pattern of trade? Fully explain. Suppose that the country with a comparative disadvantage in light bulb production (i.e. the other country has the comparative advantage in light bulb production) is contemplating putting a protective tariff on light bulbs. Provide an argument for the tariff with appropriate justification. Provide an argument against the tariff with appropriate justification. Note that in parts d.i and d.ii some groups will be benefitted and some groups will be harmed. Identify in your responses to d.i. and d.ii. who is helped by the tariff and who is harmed.
You continue to use an old machine tool that was bought four years ago for $15,000. It has been fully depreciated but can be sold today for $2,000. The existing (old) machine tool can be sold today for $2,000. You purchase a brand new machine tool at..
Governor Brown, from the state of Taxifornia, wants to increase sales taxes to bring in badly needed revenue to support state operations. He is looking at taxing various goods and services. Will the state tax revenue be greater if the state imposes a..
Discuss a demographic and an economic trend related to China's power and its impact on marketers in your country. Support your discussion of these trends with statistics.
Find firm's profit-maximizing price and quantity. Illustrate what is profit. firm's production manager claims that firm's average cost of production is minimized at an output of 40 units.
Think about a firm that you have done business with recently. What industry does this firm belong to For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under
Illustrate what factors might explain why the $A went so low when the Global financial crisis hit the world economy in late 2008?
q1. go to the above website scroll down to table h2 and select all races. compute the percentage change in the shares
If firms in the pizza industry are earning negative economic profits, which of the following will most likely occur in the future? a. Some firms will exit the market. b. The economic profits of the firms in the industry will rise. c. The market price..
A firm producing batteries is letting the acid leak into a local river. Each ounce of acid in the river causes $50 of damage to a downstream oyster farm. Graph the market for batteries, with a demand curve of P= −Q + 200 and private supply curve of P..
q.pretend you were hired to lead the presidents council of economic advisers in 2009. using the macroeconomic
Suppose that the initial loan of $20,000 and interest rate 1.2% per month. Interest due is paid at end of each month. $10,000 of the original unpaid balance is to be repaid at the end of month two and three only. How much total interest would have be..
Suppose Nation A can produce 2 million pounds of sugar per week OR 1 million pounds of rice in a week and Nation B can produce 10 million pounds of sugar per week OR 3 million pounds of rice in a week. If this is a two-good, two nation model,
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