. The price of trade Suppose that Poland and Luxembourg both produce ale and liquor. Poland's opportunity cost of producing a case of liquor is 4 kegs of ale while Luxembourg's opportunity cost of producing a case of liquor is 12 kegs of ale. By comparing the opportunity cost of producing liquor in the two countries, you can tell that production of liquor and has a comparative advantage in the production of ale. has a comparative advantage in the Suppose that Poland and Luxembourg consider trading liquor and ale with each other. Poland can gain from specialization and trade as long as it receives more than of ale for each case of liquor it exports to Luxembourg. Similarly, Luxembourg can gain from trade as long as it of liquor for each keg of ale it exports to Poland. receives more than Based on your answer to the last question, which of the following prices of trade (that is, price of liquor in terms of ale) would allow both Luxembourg and Poland to gain from trade? Check all that apply. 17 kegs of ale per case of liquor 6 kegs of ale per case of liquor 1 keg of ale per case of liquor 8 kegs of ale per case of liquor

. The price of trade Suppose that Poland and Luxembourg both produce ale and liquor. Poland's opportunity cost of producing a case of liquor is 4 kegs of ale while Luxembourg's opportunity cost of producing a case of liquor is 12 kegs of ale. By comparing the opportunity cost of producing liquor in the two countries, you can tell that production of liquor and has a comparative advantage in the production of ale. has a comparative advantage in the Suppose that Poland and Luxembourg consider trading liquor and ale with each other. Poland can gain from specialization and trade as long as it receives more than of ale for each case of liquor it exports to Luxembourg. Similarly, Luxembourg can gain from trade as long as it of liquor for each keg of ale it exports to Poland. receives more than Based on your answer to the last question, which of the following prices of trade (that is, price of liquor in terms of ale) would allow both Luxembourg and Poland to gain from trade? Check all that apply. 17 kegs of ale per case of liquor 6 kegs of ale per case of liquor 1 keg of ale per case of liquor 8 kegs of ale per case of liquor

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Moe divides his time between studying Physics and studying Economics. His production possibimes curve for his final grade in each class is shown in the accompanying figure 100 90 80 70 60 50 40 30 20 10 0 10 20 30 40 50 60 70 80 90 100 Economics Grade Both of Moe's professors require at least a 65 to pass and a 90 to earn an A. Which of the following is true? Multiple Choice Moe can pass both classes b Moe can pass physics, but only the tails economics Moe can pass economics, but only it he falls onysics Moe could earn an A in economics and stil pess physics Physics Grade O
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Please correct answer and don't use hand rating
Give typing answer with explanation and conclusion Consider a good or service where consumers pay more than its actual valuation (for eg, products with markup prices at retail significantly higher than their cost: greetings cards, bottled water, stock price, movie theatre popcorn/candy). Based on the irrational decision-making and marginal analysis, explain why such irrational decision-making could take place in this situation.
Oscar purchased a $30 steak for dinner, but burned it bad on the grill. Since he paid top dollar for the steak he figures he should eat it anyways. Is Oscar properly using economic reasoning? Yes, the marginal cost of not eating the steak would be $30. No, the $30 spent on the steak is a sunk cost and should not be included in his decision whether to eat the steak or not.. Yes, if he doesn't eat the steak he will have wasted economic resources. No, the opportunity of eating the steak is whatever else he could have purchased for the $30.
Solve all this question......you will not solve all questions then I will give you down?? upvote....
Solve all this question......you will not solve all questions then I will give you down?? upvote.....
The questions are attached in the image. The questions are based on 'General equilibrium' model in 'economics'. (please do not tag it in some other subject) These are simple Multiple choice questions which are undergrad level. Please do not reject them. The answers to 45,46 and 47 are D,C and C respectively. Please answer the following as well: 1. For 45, provide the set of pareto efficient outcomes. 2. For 46, provide an algebric solution if possible. Provide a mathematical argument. 3. For 47, provide provide a set of points (if exists) that will take us to the given equilibrium under the given conditions. The questions are easy. PLEASE DO NOT REJECT IT!