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Suppose someone stated that the Heckscher-Ohlin model is best-suited for explaining trade between developed countries and developing countries, while newer theories such as those of Linder and Krugman are best-suited for explaining trade among developed countries. Would you agree with this observation? Why or why not?
What happens in a perfectly competitive industry when economic profit is greater than zero?
What was Mill talking about when he wrote about the quality of pleasures?
Small country Alpha exports lumber products obtained by cutting Alpha's forests. Cutting the forests creates negative external effects in Alpha.
q1. consider a firm using a single variable input labor and a single fixed input capital. please explain what will
Either an increase in demand with the supply curve held constant or a decrease in supply with the demand curve held constant will raise a market's equilibrium price.
Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.
Calculate the growth rate of nominal GDP between 2011 and 2012? e) Determine the growth rate of real GDP between 2011 and 2012?
If an economy experiences a decrease in consumer spending, most economists believe:
Assume an economy where there are two producers: a wheat producer and a bread producer. In a given year, the wheat producer grows 30 million bushels of wheat of which 25 million bushels are sold to the bread producer at $ 3 per bushel, and 5 million ..
Suppose that you can schedule a worker for up to 10 hours per day. The total benefit and total cost functions are B(H) = 1200 × √H and C(H) = 200H. The corresponding formulas for marginal benefit and marginal cost are MB(H) = 600/√H and MC(H) = 200. ..
Find the output levels where total product and average product are maximized. What is marginal product when total product is zero?
Master Card has a series of cute commercials that list a series of accounting items also costs leading to a costless product.
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