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The following table gives recent figures for yield per acre in Illinois and Kansas:
a. If we assume that farmers in Illinois and Kansas use the same amount of labor, capital, and fertilizer, which state has an absolute advantage in wheat production? soybean production?
b. If we transfer land out of wheat into soybeans, how many bushels of wheat do we give up in Illinois per additional bushel of soybeans produced? in Kansas?
c. Which state has a comparative advantage in wheat production? in soybean production?
d. The following table gives the distribution of land planted for each state in millions of acres in the same year.
A company is considering purchasing a fleet of delivery vans which are available with either a diesel or gasoline fueled motor. The gasoline powered van has an initial price of $29,750, the diesel powered one costs $32,250. Both vehicles have a sa..
Using the documents determine why was it Europe, and not anyone else, who explored and conquered the Americas?
Suppose the housemates have the property rights to a quiet house. How many hours will Vivian practice? Who gets how much money
mr. jones has deposited his life savings of 70000 in a retirement income plan with a local bank. the bank pays a. 10 b.
Use the concept of unplanned investment to explain adjustments toward equilibrium from both the $380 billion and the $300 billion levels of domestic output.
Assume that savings are invested at the end of each calendar year. Assume that during your working life you earn a return of 8% per year, and that when you retire at age 65 you move your assets into more conservative investments and earn a return ..
Caleb bought a car for $6,900. He agreed on a five- year loan at a 5.4% interest rate.
You have the chance to buy either one of two bonds. The first is a tax-free municipal with a coupon yield of 6.5%. The second is a corporate bond with a yield of 8.5%. Both bonds are rated AA. Your tax rate is 28%.
What component of demand fluctuates the most?
Will there still be fishing by 10 firms? Is this tragic or not? c. Also plot function and show production for 2 and 12 firms.
Find the expected value of X, find the variance of X and what is the conditional distribution of Y given that X=3?
a)What is the probability that two randomly (and independently) selected applicants will both score less than 450 in this test b) What is the probability that out of two randomly (and independently) selected applicants, at least one will score less..
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