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In the small country of Eurasia people do salmon fishing, they produce canoes and also grow corn. In 2003 they produced 5000 canoes using labour and natural materials only, but sold only 4000, as the economy entered a recession. The cost of producing each canoe was $1000, but the ones that sold were priced at $1250. They fished $30 million worth of salmon. They used $3 million of the salmon as fertilizer for corn. They grew and ate $55 million of corn. What was Eurasia's GDP in 2003? Explain your methodology
The market demand is given by P=175.3-0.003*Q and thus marginal revenue is MR=175.3-0.006*Q. The monopolist's marginal cost is MC=5.2+0.001*Q. Calculate the profit-maximizing production quantity.
Explain how MNE investment flows from richer countries to poorer countries can have a similar, and potentially accelerated, effect to that of "free trade". Consider the ways in which national tax and/or subsidy policies may affect this process.
Will the homeowner retrofit also which insurance policy will the homeowner buy. Explain will the insurance company make a profit (on average) given the homeowners choice.
Why math and programming (ex. Excel, R, or Python) is helpful in money banking and financial markets?
Explain why a weighted average is more suitable than an unweighted average when trying to measure price increases. B. (i) A well known annual book was priced at £17 when published in December 2005.
cypress river landscape supply is a large wholesale supplier of landscaping materials in georgia. cypress rivers sales
Complete the following table by computing the marginal utility per dollar for successive units of X, Y, and Z to one or two decimal places.
1. Describe the environment in which you feel the safest and why? 2. What concerns do you have? 3. What malicious software do you worry about the most?
A firm in a purely competitive industry has typical cost structure. the normal rate of profit in the economy is 5 percent. this firm is earning $5.50 on every $50 invested by its founders. what is the percentage rate of return?
Suppose that market forces of supply and demand interact in a market to determine an equilibrium price. Explain or describe how the determination of this price might serve to allocate or distribute this product to buyers in the market.
Suppose that aggregate price level is constant, interest rate is fixed, and there are no taxes on foreign trade, how much will the aggregate demand curve shift and in what direction if the following events occur?
Illustrate what do each of the following seek if they pursue their own self interest: consumers, resource owners, and business firms.
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