Suppose there are two countries, the U.S. and Mexico, each producing two goods, computers (C) and avocados (A). The U.S. has 300 workers and Mexico has 400 workers. Production of each goods requires only labor as factor of inputs. The following table provides information on the unit labor requirements for each good in each country. Table 1: Unit Labor Requirements U.S. Mexico 1 Computers Avocados 8 3 4 Which country has absolute advantages in producing computers and avocados? Why? Which country has comparative advantages in producing computers and avocados? Why?

Suppose there are two countries, the U.S. and Mexico, each producing two goods, computers (C) and avocados (A). The U.S. has 300 workers and Mexico has 400 workers. Production of each goods requires only labor as factor of inputs. The following table provides information on the unit labor requirements for each good in each country. Table 1: Unit Labor Requirements U.S. Mexico 1 Computers Avocados 8 3 4 Which country has absolute advantages in producing computers and avocados? Why? Which country has comparative advantages in producing computers and avocados? Why?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Two rival communications companies (Alpha and Beta) are both considering bringing out a revolutionary 8G wireless technology. Unfortunately, the costs of development are so high that the potential market could only support one firm. Both companies understand these possible outcomes. If one firm enters the 8G market and the other does not, the entering firm will receive $500 billion in profits over the next 5 years; the other firm will receive $100 billion over the same 5 years (by concentrating on their current 5G service). If neither enters the 8G field, they can both expect to receive $75 billion over the 5-year period, as they fight over the 5G market. Lastly, if both enter the 8G market, each will end up suffering a $50 billion loss over the same 5 years. Use a game table with “ENTER” and “STAY OUT” to decide each player’s options and the payoffs. Explain why each company has a strong reason to want to announce its intentions before the other company announces theirs.
What is the mc of the 2nd unit 10 20 30 50
If the details of the quantity to be produced for a period are as follows, how many units are produced? The opening inventory is 160 units; units sold are estimated to be 200 units; the desired closing stock is 100 units. a. 200 units b. 260 units c. 460 units d. 140 units
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what are the numbers that go in the cost table A through L Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
S LO 20 # 3 PRICE (Dollars per hot dog) 5. History Bookmarks People Tab Window Help 令) 71% Mind Tap - Cengage Learning /index.html?deploymentld%359828119415547787292595253&elSBN=9780357133606&id%3D1069413986&snapshotid%-D2211990& * CENGAGE MINDTAP Q Search this course Homework (Ch 15) 5. Monopoly outcome versus competition outcome Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium with many hot dog stands in the city, each one selling the same kind of hot dogs. Therefore, each vendor is a price taker and possesses no market power. The following graph shows the demand (D) and supply (S = MC) curves in the market for hot dogs. %3D Place the black point (plus symbol) on the graph to indicate the market price and quantity that will result from competition. Competitive Market +. 4.5 PC Outcome 3.5 3.0 2.5 S=MC 1.5 0.5 D. 120 140 160 180 09 QUANTITY (Hot dogs) 40 PI MacBook Air DA DD F8 F6 F5 F4 F2 %24 6. 7. 8. 9- 4. 2.
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