Advantage in producing a particular good , Microeconomics

Assignment Help:

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

780_quantity chart.png

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.

 

 

 


Related Discussions:- Advantage in producing a particular good

Modern theory of rent, what are the criticisms of modern theory of rent?

what are the criticisms of modern theory of rent?

Production possibilities curve, What is the marginal opportunity producing ...

What is the marginal opportunity producing the first unit of paper? The marginal opportunity cost of producing the forth unit of paper?

Components of cost, Normal 0 false false false EN-IN ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Distributive bargaining, Distributive Bargaining An approach to negoti...

Distributive Bargaining An approach to negotiation that finds to divide up a fixed amount of resources.

Market structures, Explain the monopolistic competition model of equilibriu...

Explain the monopolistic competition model of equilibrium with price competition under chamberlin s model

Market output of company, (a) Increase in technology and productivity take ...

(a) Increase in technology and productivity take effect in the red bull market use and label a graph to explain the result of this change on each of the following (i) Market Pri

Determine the fiscal policy, How might an accurate value for the multiplier...

How might an accurate value for the multiplier aid a government in setting fiscal policy? Any given multiplier will enhance national income at a given rate times enhance in gov

Distinction between cost and expenditure, Distinction Between Cost and Expe...

Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen

Perfect Competition, Consider the market for Kitty Litter. Assume this ind...

Consider the market for Kitty Litter. Assume this industry is purrfectly competitive and is presently in long-run equilibrium. Suppose people begin to prefer Dogs as pets and Cat

Homework blues, Is it possible to get an expert to check my homework before...

Is it possible to get an expert to check my homework before I submit it?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd