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An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee in 60 minutes, while an average worker in Peru can produce an ounce of soybeans in 50 minutes and a ounce of coffee in 75 minutes. Who has the absolute advantage in coffee.
What is Tom's 'real' hourly wage rate? How much will it be if he had 128 hours of leisure (= worked 40 hours)d. Tom chooses to work 40 hours a week. On the above graph, draw Tom's indifference curves between leisure and money so that this is his opt..
What will be the effect of the following events on the market for French wine and the quantity consumed? Distinguish between the short-run and the long-run impact.
Suppose that MN Company is currently selling 300 units of Product SD per month. Management wants to increase sales and feels this can be done by cutting the selling price by $22 per unit and increasing the advertising budget by $20,000 per month. ..
Draw a supply-demand diagram of the kenyan mangoes market to illustrate both the autarky and free trade positions. make sure you use all the information presented in the some facts above?
Why does your company not make any profits? Show graphically and explain and you convince the king that it is the patriotic duty of every citizen to eat more spam.
Explain why in a perfectly competitive market the firm is a price taker. Why can't the firm choose the price at which it sells its good and Leskeista produces table lamps in the perfectly competitive table lamp market.
Why there is so much advertising in monopolistic competition and oligopoly? How does such advertising help consumers and promote efficiency?
What are some of the reasons for the largest immigrant trend in the US since the 1970s and although the public has always been divided over bilingual education, why is this truer today than ever before?
If the government subsidizes private colleges and sets the subsidy so that the efficient number of students will enroll in college, what is the subsidy per student? How many students will enroll?
Estimate the monthly payment if the car is purchased with a $15,000 down-payment and estimate the down-payment required to keep the monthly payment at $550
Distinguish between a change in Supply and a change in the quantity supplied. Refer to both increases and decreases for each. Distinguish between a change in Demand and a change in the quantity demanded. Refer to both increases and decreases for.
Go to the internet auction site eBay at www.ebay.com and pick the category Jewelry and Watches, followed by Loose Diamonds and Gemstones, and then Diamonds, Natural.
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