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1. How can a nation and its producers determine whether or not it has a comparative advantage in producing a particular good or service?
a
2. The above figure shows the market for the three moving companies in a small nation. If the movers act as perfect competitors, what is the price per mile and the number of miles per year? If the movers collude and act as a single monopoly, what is the price per mile and the number of lines per year?
3. a. "The marginal rate of substitution of the good measured along the x-axis increases as a consumer moves downward along an indifference curve." Is the previous statement correct or not?
b. Describe the consumer equilibrium in the indifference curve/budget line model.
Explain how unemployment could be voluntary or involuntary . Start off with a definition of the labour force and then outline the proportion of the labour force which would be
Assignments
illustrate and explain the changing demand for big mac using the indifference curve and budget line
Write Equations Of Average Total Cost Variable Cost Marginal Cost, Economics Write equations for total cost, average total cost, variable cost, and marginal cost. The Central Pub
2ALBr3+3K2so4--->6KBr+1Al2(so4)3
In the purely competitive analysis, there were two dissimilar models, one model for the industry, in which the interaction of supply and demand recognized the market price and quan
Provide an economic explanation of what you have shown in your diagram above. Iceland was a small open economy with perfect capital mobility. Consequently, the equilibrium domesti
Assume that a shoe salesman learned the price elasticity of demand for her products is -1.5. How many percent will increase in total sales (revenue) if she cuts the price by 10%?
Problem: a) What factors would you consider when analysing the digital economy relative to e business? b) "The growing use of the internet by consumers and businesses has re
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