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Discussion Question
Question 1. What is absolute advantage? What is comparative advantage?
Question 2. Under what conditions does comparative advantage lead to gains from trade?
Question 3. Is it possible to have a comparative advantage in the production of a good but not to have an absolute advantage? Explain.
lindenwood valley farmers is a missouri business that raises ducks for slaughter. among the products produced by
Why does the demand curve slope downwards? Explain the concept of equilibrium in a market. (Ceteris paribus), is this a stable equilibrium
Most economists do not want to raise federal income taxes in order to reduce the federal budget deficit.
What the difference between a price ceiling and a price floor? Please elaborate in details. Compare between physical capital and human capital?
A firm's current profits are $750,000. These profits are expected to grow indefinitely at a constant annual rate of 5 percent. If the firm's opportunity cost of funds is 8.5 percent, determine the value of the firm:
The demand for tables is P=24-2Q and the supply is P=Q. If the government were to impose a price floor of $12, What is the deadweight loss created by the price.
The "Moral Limits of Markets" by Michael J. Sandel.
(Definition of economics) What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics?
The BIG Idea How do partnerships support the profit motive of entrepreneurs?
Economists generally dislike the restriction of trade because it
Explain why ethics is important to all types of organizations (business, government, non-profit, etc.).Evaluate the concept of ethics in society. Then, compare and contrast the ethical perspectives of business and government. Analyze the fundamental ..
Suppose that fast-food chains start using healthier ingredients. What are the new equilibrium wage and quantity of labor in the fast-food industry?
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