8. Before NAFTA, the wages of workers in Mexico were lower than in the US. What can we guess about the productivity of workers in Mexico vs workers in the US?

Q: Consider a town in which only two residents, Alex and Becky, own wells that produce water safe for d...

A: [a] Profit is calculated by taking the difference between total revenue and total cost. Profit = TR ...

Q: Good X D. IC2 IC • E C Good Y Moving from B to D, the person is giving up Good X and getting Good Y....

A: Take each option one by one.. ●  YES, the moving from B to D, person is giving up the X to get the Y...

Q: Question 7 The fact that in the USA, a municipal bond could have a lower yield compared to federal g...

A: In the US economy, there are different types of bonds exchanged by the people in the market based on...

Q: There always has to be some unemployment, because O there are always some people changing jobs, and ...

A: Unemployment means people are unemployed because they are looking for a job. It means they try to fi...

Q: Create a table describing input combinations of labor and wheat flour in producing a certain cake. T...

A:

Q: Question 36 Single Cholce PlayOut is an online booking app for using city-wide playgrounds for vario...

A: Answer-  

Q: Why is it not efficient if a city zone land for open space without buying the land?

A: Public goods are non rival in consumption and non excludable. 

Q: 4. Understanding different policy options to correct for negativeexternalities Carbon dioxide emissi...

A: Answer: The policy options that can correct negative externalities are given as: (1). Corrective tax...

Q: Consider a utility function of two goods x and y: U (x,y) = A (ax +by') where A >0, a>0, b>0, r € (-...

A: b) Slope of indifference curve= (-) MUx/MUy MUx= Ar(axr+byr)1r-1(arxr-1) MUy= dU/dY= Ar(axr+byr)1r-1...

Q: Pork belly strips and lettuce are complementary goods because most of the time they are enjoyed toge...

A: When two goods and complementary, they are consumed together due to which any change in the demand f...

Q: The ___ is the nominal interest rate minus the rate of inflation.     Question 13 options:   real...

A: the real inflqtion rate could be calculated as:Real interest rate =1+ Nominal interest rate1+ inflat...

Q: Consider a policy that has benefits and costs that accrue in the following way: Year 0: Benefits = 0...

A: The Net Present Value (NPV) of the policy can be calculated by using the following formula. NPV=-C0+...

Q: 185.Suppose the government wanted to impose a tax and wanted the entire burden of the tax to fall on...

A: here we find the correct option as follow,

Q: Two firms compete as a Stackelberg duopoly. The demand they face is P = 402 - Q. The cost function f...

A:

Q: c) Please find below Pricing options for firm A and B, along with individual payoffs (Firm A's payof...

A: Given pay off Matrix  

Q: easha Pratt will graduate from high school next month and cannot decide what she wants to do. She ha...

A: Economic decisions are those decisions in which people will choose what to do with limited resources...

Q: What is Adam Smith’s view on “accumulation of wealth”?   What does he say “must be done with the wea...

A: According to adam smith, the needs of an individual lead to a self-interest behavior that creates so...

Q: TRUE or FALSE. If the statement is correct, write TRUE on your answer sheet. If the statement is inc...

A:

Q: You are given the following Production Possibility Frontier (PPF): X2+ Y = 1728 Suppose that the soc...

A: Given information PPF=X2+Y=1728 U=XY  

Q: Given the following profit function: T=-2Q^2+260Q-4500, Answer the following questions.

A: Profit is the difference between tital revenue and total cost . It is the amount left from the reven...

Q: Assume that the most efficient production technology available for making vitamin pills has the cost...

A: Cost basically refers to the total expense that occurs in a production process. It includes both typ...

Q: Pork belly strips and lettuce are complementary goods because most of the time they are enjoyed toge...

A: Here, it is given that lettuce and Pork belly strips are complementary goods in consumption.

Q: Suppose the price of the good is equal to 90/unit. Using the demand and supply schedules in letter b...

A: The demand curve is a downward-sloping curve and the supply curve is an upward-sloping curve. The eq...

Q: Question 45 challenged." "According to the idea of O Inoculation; strongly O inoculation; mildly it ...

A: In an economy, when people make decisions, there actions explains their behavior and beleifs, which ...

Q: From 1970 to 2020, real per capita gross domestic product (GDP) in the United States increased by an...

A: Real GDP per capita is calculated by dividing a country's total economic output by its population an...

Q: 20 Price 18 16+ 14 Supply 12 10 6 Demand 2. 10 20 Quantiy 30 40 60 70 80 a. At the equilibrium price...

A: The total surplus is sum total of consumer surplus and producer surplus. 

Q: Which of the following items is an example of using a public good? O A. playing frisbee with some fr...

A: A public good is a product or service that is made available to all members of a society in economic...

Q: Interpret with five assumptions of the Ricardian Trade Model and illustrate it with an example how i...

A: The core concept is comparative advantage: it is unimportant for commerce if one nation is more prod...

Q: An investment of $100,000 in safe 10-year corporate bonds yields an average of 9% per year, payable ...

A:

Q: (6) For each situation, solve for the Cournot-Nash equilibrium (Capacity Constraints) 6a) Suppose Sa...

A:

Q: A monopolist charges a single price for its product, sells 100 units, and has a marginal revenue of ...

A: Q = 100 MR = 30 MC = 500 Fixed Cost = 500

Q: Who did Milton Friedman advise with his economic theory?

A: Milton Friedman was an American economist and statistician who believed strongly in free market capi...

Q: Question: i) Explain briefly what is demand? ii) What are the types of demand?

A:

Q: Who currently favors John Maynard Keynes theories?

A: Answer-

Q: When a nation concentrates on a certain production activity based on a specific resource, which of t...

A: The word "comparative advantage" refers to how trade benefits businesses, governments, and individua...

Q: As more economic development occurs, A. capital accumulation decreases. B. the population growth rat...

A:

Q: Briefly describe the demirits of state enterprise in the field of national income?

A:

Q: In 2014, GDP was $12 million and the price of the market basket was $40. In 2020, GDP was $15 millio...

A: In 2014, GDP = $12 million The price of the market basket =$40. In 2020,GDP = $15 million  The price...

Q: Jan Aart Scholte has argued that at least five broad definitions of ‘globalization’ can be found in ...

A: Globalization is a concentrated type of internationalization, according to Scholte, and " global " i...

Q: 1.2 When Acme Dynamite produces 200 units of output, its variable cost is S3,000, and its fixed cost...

A: Variable costs change based on the amount of output produced. Variable costs may include labor, comm...

Q: In our lecture we study about joint stock companies,. Discuss the important points of joint stock co...

A:

Q: b) The ABC electric company produces two products, refrigerators and cooking ranges. Production take...

A: Let X and Y be the total number of refrigerators and ranges to be manufactured.  Maximize Z = 60X + ...

Q: Economists consider the effects of free trade on income distribution to be less important than the e...

A: False If there is a free trade, it would cause the more demand of the less priced imported items and...

Q: What is happening to the supply of women who are part of the workforce? What has motivated this chan...

A: Answer-1:- Covid-19 pandemic has hit the world economy very badly. Almost all the nations went under...

Q: Bernanke argued two problems contributing to the financial crisis included: banks reliance on long-t...

A: BPEA, the academic magazine published twice a year by Brookings' Economic Studies division, has been...

Q: In an open economy, a permanent beneficil suppy shock (s < 0) implies that the domestic real exchang...

A: A supply shock is an unexpected event that shifts the SRAS and could be one of two types: 1). Positi...

Q: . You are economic consultant for Jack, who farms raw cotton in a perfectly competitive market. One ...

A:

Q: Use the previous graph to complete the first row of the following table by indicating the quantity o...

A: Given: Equilibrium price=$ 500 Equilibrium quantity=$250 million tonnes per month

Q: 2. What is the maximum amount you would pay for an asset that generates an income of P550,000 at the...

A: Opportunity cost means the sacrifice of a person while choosing an alternative.