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Assume the US can produce Toyotas at the cost of $18,000 per can and Chevrolets at $16,000 per car.?
In Japan, Toyotas can be produced at 1,000,000 yen and Chevrolets at 500,000 yen. a. In terms of Chevrolets what is the opportunity cost of producing Toyotas in each country? b. Who has the comparative advantage in producing Chevrolets? c. Assume Americans purchase 500,000 Chevrolets and 300,000 Toyotas each year and the Japanese purchase far fewer of each. Using productive efficiency as the guide, which country should produce Chevrolets and which should produce Toyotas
As she will be in a lower tax bracket. As her financial advisor, which option do you recommend.
If the price of one good is four time the price of the other also the price of both double, Illustrate what effect does it have on the set of affordable bundles
Describe economics and Describe the economic perspective, including definitions of scarcity, opportunity cost, purposeful behavior.
Illustrate what is the firm's profit maximizing output level. Is the industry in long-run equilibrium.
If the marginal cost of planting and harvesting an acre is $7000 per acre for each of the five acres, how many acres should the farmer plant and harvest.
If there are multiple highest bids, then the winner is the bidder whose valuation is the highest or whose index is the smallest among the highest bidders.
Growth rates in follower nations such as South Korea also Hong Kong averaged about 10 percent every year.
Elucidate the fact that the cross-price elasticity of natural gas with respect to the price of fuel oil.
Now suppose Starbucks introduces world to premium blends, and so demand rises substantially.
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To what extent is to greek proverb "Happiness is the full utilization of your capacities along lines of excellence." similar and different from the traditional definition of economics.
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