(a) DEMAND RATE When the price of a certain commodity is p dollars per unit, customers demand x hundred units of the commodity, where x² + 3px + p² = 79. How fast is the demand x changing with respect to time when the price is $5 per unit and is decreasing at the rate of 30 cents per month? (b) MANUFACTURING At a certain factory, output Q is related to inputs u and v by the equation

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.