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Comparative Advantage

(households production)

(households production)many households supplements their food budget by cultivating small vegetable gardens.explain how each of the following migth influence this kind of household production: a.both husband and wife are professionals who can earn high saleries. b.the household is located in acity rather than in a rural area.

Addresses the following questions 1. Why do you think it will be interesting to focus in the economic ideas of Walmart? 2. How you think macro-economics applies to Walmart? What would it contribute to your understanding of this organization's prospects? 3. Pick two of the Big Ideas of the Basic Terminology in Economics. Discuss how they apply to Walmart.

Addresses the following questions 1. Why do you think it will be interesting to focus in the economic ideas of Walmart? 2. How you think macro-economics applies to Walmart? What would it contribute to your understanding of this organization's prospects? 3. Pick two of the Big Ideas of the Basic Terminology in E

Eco102

Please answer 4 attached questions. table attached in xls file. thanks

Microeconomics

There is no word minimum for any answer; just give a complete response. Question One What is the most important determinant of price elasticity of demand? Why is this so? Give an example of a firm that price discriminates for its product or service. Question Two Give an example of the income effect and

Online auction sites

Using some or all of the following, compare some of the most popular online auction sites: -Pricing strategies -Oligopoly -Porter's 5 forces framework I would need around 300-500 words (please include references)

Opportunity costs and comparative advantage

Please help with the following international economics problems. In one day, Canada can produce either 200 tonnes of wheat or 90 tonnes of copper ingots. In one day, Chile can produce either 120 tonnes of wheat or 175 tonnes of copper ingots. Based on these numbers, a. Calculate Canada's opportunity cost of one tonne of w

Summarize a Protectionist Trade Policy

Who benefits from a tariff or quota? Who loses? What are the positives and negatives of protectionist trade policies on the federal government's part? Which policy is best right now

Theories of comparative advantage

2. How would each of the following theories of comparative advantage explain the fact that the United States exports computers? a. Productivity differences b. Factor abundance c. Human Skills d. Product life cycle e. Preferences 13. Suppose the world price of kiwi fruit is $20 per case and the U.S. equilibrium price wi

Barriers to entry, globalization, oligopoly pricing

1. Other than economies of scale, what would you consider to be barriers to entry into a market? Are these barriers the same for all market structures? Explain your response. 2. How does globalization lead to greater competition in the marketplace? 3. Describe three oligopoly pricing models: a. the kinked-demand

Practice Problems

An increase in the Federal minimum wage to $7.25 per hour from $5.15 per hour, assuming that $7.25 is an effective price floor and that all other things remain constant, will: a. reduce the number of unemployed. b. increase the number of unemployed. c. shift the supply of labor to the right. d. shift the demand of labor to

Financial Statement Analysis

Comparative statement data for Douglas Company and Maulder Company, two competitors, appear below. All balance sheet data are as of December 31, 2009, and December 31, 2008. Douglas Company Maulder Company 2009 2008 2009 2008 Net sales $1,549,035 $339,038 Cost of goods sold 1,080,490 241,000 Operating

Labor Market, Trade and Exchange Rates

Please answer the following, each part in approx. 400-500 words. THE LABOR MARKET (a) If standard microeconomic analysis could be applied to the labour market, then there would be no such thing as unemployment. (i) Explain why the above statement is true in theory (ii) Explain why the above statement has very limited re

Find the Opportunity Cost

As the French franc appreciates in value relative to the U.S. dollar, what happens to the price of U.S. goods in France? What happens to the price of French goods in the U.S.? Suppose the Canadian dollar (C$) price of one British pound is C$2.414. A hotel room in London costs 110 pounds, while a similar hotel room in Toronto

Determining gains from international trade

1.) Suppose that the United States can produce 500 million barrels of oil or 200 million pairs of tennis shoes a day. Egypt can produce 750 million barrels of oil or 300 million pairs of tennis shoes a day. If these are the only goods the countries produce, at what terms of trade would the United States and Egypt gain from tradi

10 short answer questions

Name... 1. Is Wal-Mart too big? Or should it be allowed to grow even bigger because of its benefits to us? Why? 2. Explain comparative advantage and why it is good for us. 3. Based on what you've learned in this class, and what you've seen happen, should the government have handled any of the big three auto manufactur

US production of Chevrolet, Japan production of Toyota

I have come across this type of scenario several times in college and in personal business ventures. Understanding these scenarios helps us understand a small piece of microeconomic strategy. Assume the US can produce Toyotas at the cost of $18,000 per car and Chevrolets at $16,000 per car. In Japan, Toyotas can be produced

comparative advantage problem

Given the following answer these questions: Alfazia: 2 units of corn = 3 units of cheese Radamia: 1 unit of corn = 2 units of cheese Uthania: 1 unit of corn = 1 unit of cheese Radamia: 2 DVD players = 3 watches Uthania: 1 DVD player = 2 watches Suntize: 2 DVD players = 5 watches 1.) For Rodamia, did you decide

International Economics

Question 1: You are a manufacturing company of brooms and mops. In order to cut cost, you are thinking about shifting production of some of the products to Mexico. Additional information is provided below. (assume no quality differences, zero transportation costs, etc) Products produced/ unit of labor Brooms Mops M

Comparative/Absolute Advantage

Still remaining within the Ricardian framework, consider that Canada has 100 units of labor available for production while Mexico has 200 units of labor and both countries produce corn and wheat. Table B summarizes outputs of corn and wheat produced per hour of work in Mexico and Canada with labor (or, hours of work) as the only

Need help with multiple choice problems

1.) Positive economics: a. deals with subjective value judgments about "what ought to be." b. will make the economy positively better off. c. is the exact opposite of negative economics. d. deals with how the economy does in fact work. 2.) The opportunity cost of changing your decision on what to major in college is highe

Study Sheet Questions

1.Rational decision making means that: a. marginal benefits and marginal costs of a decision are always easy to measure. b. if the marginal benefit of the last unit of an activity exceeds its marginal cost, then more of that activity should be undertaken. c. one should keep doing an activity until the total benefits are maxim

Introduction to Macroeconomics:

The Reference organization is Walmart Please address the following questions: 1. Why do you think it will be interesting to focus in the economic ideas of Walmart? 2. How you think macro-economics applies to Walmart? What would it contribute to your understanding of this organization's prospects? 3. Pick two

Macroeconomics

Please assist me with the following attachment. I have done research but need some clarification. Thank you for your assistance. Please complete in Word and submit an electronic copy. Part I. Essay - Provide an answer in the space in between the questions. 1. Suppose that the Bank of China wishes to peg the rate of

Discussion Questions

1. The market for chicken sandwich, considered a normal good, is in equilibrium. Examine the effect of the following events on the equilibrium price and quantity of chicken sandwich. (a) An increase in consumers' preference for beef (b) Producers expectation of future profit 2. President Obama is considering implementing tr