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Point A 4m barrels oil 200 tonnes lumber
Point B 6m barrels oil 150 tonnes lumber
a) If we had a PPF with the goods oil and lumber, how would be measure the MC of oil between points A and B ? *
B) What would be the MB of lumber in this example?
Based on absolute advantage and comparative advantage, Elucidate the effect of global economic conditions on the choices available to that country.
How does the Federal Reserve increase or decrease the money supply and what might cause the Fed to change the supply?
Steel is labor intensive and rice is land intensive. According to the long run Heckscher-Ohlin model what happens when these two countries move frome no trade to free trade? Wages in France's rice industry? Wages in France's steel industry? The pr..
The agricultural market for corn usually can be characterized as a purely competitive industry. How might the following events affect the shot-run cost curves and output for a firm in the industry?
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In perfect competition, profits will disappear in the long run as new firms enter the market; in a monopoly, profits may exist in the long run. In the short run, both monopoly and perfect competition attempt to minimize total costs.
Public goods can be produced by either the government or the private sector. Private goods can be produced in either sector as well. The problem is that the market tends to underproduce public goods and overproduce private goods.
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A new-issue municipal bond rated Aaa by Moody"s Investors Service is priced to yield 8 percent. If you are in the 33 percent tax bracket, what yield would you need to earn on a taxable bond to be indifferent?
Most students will agree that sleeping in on a school/work day has opportunity costs. Are there opportunity costs in sleeping in on a weekend (assuming you don’t work or go to school on Saturday/Sunday)?
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