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Question: In the past, comparative advantages have sometimes shifted from one nation to another. What factors do you think caused these shifts? Why? Was there anything a nation could have done to prevent an advantage from shifting to another nation?
Two instructors are offering elective courses this semester. One instructor has been teaching at the university for several years. The other instructor is new.
Explain why cultural values in some Central/Latin American countries contribute to the problem of human trafficking.
As the CEO of a large multidivisional company, it falls to you to set a transfer price between your Materials Division and your Production Division.
What number of drivers appears to be most efficient in terms of output per driver and what number of drivers appears to minimize the marginal cost of transportation assuming that all drivers are paid the same salary?
Provide a formula before you explicitly calculate value - find the GDP deflator, or the Implicit Price Deflator for 2001. Provide a formula before you explicitly calculate this value.
A soft-drink bottler collected the following monthly data on its sales (measured in thousand units) of 12-ounce cans at different prices.
What is an example of a product (or group of products) which you buy or sell whose demand is price inelastic (or, if you prefer, price elastic).
Statistical agencies. Write a short description of the work of one of these government statistical agencies.
Where have you seen any of these measures of total, marginal or average production or cost used where you work or have worked? Have you seen any of these ideas
The makers of academic books find that, when they raise the price of the average hard copy book from $50 to $75, quantity demanded among students drops from 100 to 90. Among casual readers, quantity demanded drops from 80 to 40.
Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic.
Calculate the monopolist's profit.
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