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Question: 1. In what circumstances will a country have a comparative advantage in producing a particular good despite having an absolute disadvantage in producing that good?
2. Why might nations not wish to specialize even when they have a comparative advantage in the production of some goods com-pared with other countries?
A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers.
Was there a redundancy of information in part (b)? If yes, how much is the minimum amount of information required in that question to derive the utility function?
Set up the problem in an alternative, equivalent way where the govern- ment's budget constraint is modelled as a separate constraint in the La- grangean. What must be the value of the Lagrange multiplier on this con- straint at the optimum?
How lean thinking has been or could be strategically applied to reduce waste in this company. Don't forget to consider supply chain issues in your discussion.
In sedimentation involving mixtures of particles of various sizes, the larger particles hinder the movements of the smaller ones. Thus, it is important to study both the mean and the variance of particle sizes. Suppose that spherical particles hav..
Why is sustained inflation a purely monetary phenomenon? Why is an increase in foreign exchange reserves recorded as a debit (-) item in the balance of payments?
A pure monopolist determines that at the current level of output the marginal cost of production is $2, average variable costs are $2.75, and average total costs are $2.95
Explain when and why each phase occurs. What is the benefit of having a well-defined rite of passage? Must be at least 350 words in APA format.
Determine what fiscal policy measure has a more direct impact to the economy
Kenya is a state that is a part of the African Nation. Talk about the exchange rates and their money supply. Also write about whether or not Kenya has a promising future.
If $200 is deposited in a savings account at the beginning of each of 15 years, and the account draws interest at 7% per year, how much will be in the account.
Suppose that due to a technological advance, supply increases by 10 pens at any given price. Holding everything else constant, what is the new equilibrium quantity in the market for pens
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