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1. Explain how absolute advantage and comparative advantage differ?
2. Give an example in which a person has an absolute advantage in doing some thing but another person has a comparative advantage .
3. Will a nation tend to export or import goods for which it has a comparative advantage? Explain.
4. Why do economists oppose policies that restrict trade among nations?
5. What are the different applications of comparative advantage?
Explain the graph as their is an increase in income
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
Explain the role of managerial ecnomist in kissan &dipsy fro ub group
Question: There is widespread belief that the process of globalization has largely bypassed Sub-Saharan Africa, leaving the sub-continent in a state of marginalization in the w
Suppose a firm faces two markets for the same product. In market A, the demand function is PA=60-QA, while in market B the demand function is PB=36-0.5QB. The total cost function i
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ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
how has the haberlers theory of opportunity cost an improvement over the classical theory of trade
Suggestions For the last 60 years the Bretton Woods institutions have played an essential role in ensuring global financial stability and fostering economic growth and develop
Which of the following is a free good? Fresh water, forests in the northwestern United States, the advice of economists, or none of the above?
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