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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.
the diagram used to illustrate of abnormal and normal profits
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"Micron" is a company,providing micro financing facility for various business entities.So far Micron has been in operation for seven years facilitating new business ventures and ex
What does Keynesian consumption function say about tax cuts
nm utility index
Nonmetals tend to gain electrons. A-Metals tend to lose electrons. B-Atoms have the natural tendency to C-fill their outermost shells. All of the above. D-
Externalities: Many economic activities have collateral effects (at times positive, but more often negative) on other people who aren't directly involved in that activity. Illustra
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a) The production function of certain firm is given as Q = 40 K 1/2 L 3/4 A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maxim
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