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1. Define the Leontief paradox, and discuss how Raymond Vernon's product cycle theory might help explain this paradox.
2. Write a brief explanation of each of the following terms:
a. terms-of-trade argumentforprotection b. intra-industry tradec. factor price equalization theorem
A family decides to save for the college education of their kindegradener starting with her 6th birthday. They would ilike to have $40,000.00 at her 19th birthday.
1. if an economist says the higher the price of oranges the fewer oranges individuals will buy ceteris paribus this
a pure monopolist sells output for 4.00 per unit at the current level of production. at this level of output the
Use algebra to derive (i.e. show how one equation follows from the other), from national income account identities
1.what is opportunity cost? explain with the help of an example why assumption of constant opportunity cost is very
a company buys a machine for 12000 which it agrees to pay for in five equal annual payments beginning one year after
Merchant banking refers to:Banking services that are only available to retail merchants.Banking services that are only available to business but not the general public.
a.In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets. b.Cite as many examples as you can of these types of businesses.
Currently, it is difficult to sue the federal goverment unless it agrees to be sued. If the law were changed so that lawsuits (such as by victims of the collapse of the I-35W bridge) were easier, how would this change the incentives.
You own and operate a fruit stand. Your demand curve is given by P = .5 - .002Q, where P is in dollars and Q is in pounds of fruit. Your marginal cost curve is MC = .006Q. Your fixed costs equal $10.
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi=20). The minimum average cost is $10 per..
a multiplicative demand function of the form qd apb1yb2pob3 is estimated using cross-sectional data and 224
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