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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers.
Who has the comparative advantage in the production of shirts? What about for computers?
A perfectly competitive firm’s profit-maximizing price is $15. At MC = MR, the output is 100 units. At this level of production, average total costs are $12. The firm’s economic profits are
We are all familiar with fluctuating prices of gasoline at the pump. Explain why does this happen.
Suppose individuals are willing to pay $500 for an airbag that reduces the probability of being killed in a car accident by 0.0001. Calculate the value of a statistical life using the willingness to pay approach. Suppose Joe plans to work for another..
What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy?
What are problems associated with implementing JIT purchasing. What are some of expectations of suppliers.
q. 1 the contracting and organizations research institute at the university of missouri maintain lots of interesting
The cost of fuel for a smelting operation are expected to be $50000 in year three,$52500 in year four and amounts decreasing by 5% per year after through year ten. at interest rate of 8% per year, calculate the present worth of the fuel cost.
Illustrate what was the impact on the supply and demand of labor on one sector of the labor market. Explain the factors that affected labor demand and labor supply in the chosen historical example.
A consumer has $600 to spend on goods X and Y. The market prices of these two goods are Px = $30 and Py = $10. What is the market rate of substitution between goods X and Y? Suppose that the consumer's income doubled. How does that alter the market r..
the impossible trinity refers to the idea that a country can simultaneously pursue only two of the three following
In 2013, American Airline wa charging $ 2,386 for round trip, non-stop and unresticted ticket between Boston and Dallas, but the price has been cut in half to $ 1, 698. (1) What can you say about the price elassticity of business travel damand on tho..
We know that Keynes and Minsky both had a multipoint description of the trade, or business, cycle with Minsky being more detailed than Keynes. Using Keynes' elements of the trade cycle as major bullet points, as-sign Minsky's elements of the business..
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