Q: What are the difference between wagners Law and Parkingsons law?
A: Both the Wagner’s law and Parkinson’s law are two different laws of economics where Wagner’s law is…
Q: please answer the following question. 1. Define the Coase Theorem. What are the reasons that the…
A: Coase theorem states that property rights can be resolved between the two parties by covering the…
Q: Analyse the main proposition of the Heckscher-Ohlin theory and StolperSamuelson theorem.
A: The main proposition of both the theories are as follows: Heckscher-Ohlin theory: According to the…
Q: Which one of the following statements about the 2-stage linear city model in topic 4 is correct?…
A: In the first period, firms choose location and in the second period, the firms compete in prices,…
Q: Suppose the Economics Department has a graduation party for its students but as a final test they…
A: The Pareto set, also known as the contract curve, is a group of points that reflects possible final…
Q: Describe “near-efficiency” theory that was proposed by Grossman and Stiglitz.
A: The Grossman-Stiglitz Paradox is a paradox proposed by Sanford J. Grossman and Joseph Stiglitz in a…
Q: Write short-notes on the following: Stopler-samuelson model Rybczynski Theorem(RT) H-O theorem
A: Disclaimer: Since you have asked multiple questions, we will solve the first question for you. if…
Q: “While auctions are appealing in theory, the challenges of auction design in practice are…
A: In theory auctions would be useful for product development as it would speed up the process of…
Q: In the astrology market there are n astrologers offering the telephone service "I can read your…
A: Price refers to the value of a commodity or a service which a person is willing to use in terms of…
Q: Suppose the government wishes to provide college aid assistance to one of the following of high…
A: Economic aid is the unilateral transfer of resources from one economic entity (the donor) to another…
Q: Indicate whether the statement is true or false, and justify your answer.Consider the following…
A: The failure in trust hypothesis and Arrow’s asymmetric information explains the presence of…
Q: Sort each of the items below based on if it is true of network goods or not. True of Network Goods…
A: Introduction Network goods are that type of good in which value of a consumer has increased when…
Q: What are the proposed advantages of the lange model that is the most famous theoretical model of…
A: The Lange model is the economic model used for the hypothetical socialist economy. This model is…
Q: What is Leontief’s Theorem all about?? Explain!
A: International trade provided many theories to explain which country should export what and which…
Q: key assumption of the Tiebout model is that? a.Wealth is distributed inequitably. b.Individuals…
A: Tiebout model is based on several assumptions. The basic concept of the assumptions is that the…
Q: t becomes possible to perform Task 1 in another country (offshoring) for free. Part A. What is the…
A: Given : Good X for : Task 1-4 units of unskilled labour,Task 2-4+4=8 units of unskilled labour,For…
Q: Mention an example of each point. Number of buyers vs. suppliers: If the number of buyers is small…
A: The number of buyers and sellers determines the structure of the market.
Q: True or False: Write true if the statement is correct and False if it is incorrect. Write your…
A: 1. While cropping an image one must follow the rule of thirds. FALSE Explanation The rule of thirds…
Q: Mathematical methods for solving planning problems advanced rapidly in the early part of the 20th…
A: Mathematical methods for solving planning problems advanced rapidly in the early part of the 20th…
Q: xplain/expound the following statement in not more than five (5) sentences: “You also have to have…
A: Innovation represents the new ideads or invevtions or modifications in existings ideas. The…
Q: Please help me answer the questions with complete solutions and explanations. Thank you
A: The firm produces various goods and services at different levels of prices. The total revenue is the…
Q: “In the Porter’s Five Forces model, the threat of substitute products refers to ______.”
A: The Porter's five force framework is tool that is used to understand the competitiveness of the…
Q: Is communicative action a necessary part of strategic planning? Argue in a four-point.
A: There is no doubt that communicative action is a necessary part of strategic planning. Following are…
Q: The firm utilizes resources so that the marginal product per dollar spent is equal for all…
A:
Q: Group of answer choices True
A: Explanation: Uniform industrial Code Article a pair of governs the sale of products. It had beena…
Q: Consider the simple model of law enforcement where there are only monetary sanctions, people are…
A: Social Cost refers to the private cost incurred by the individual directly involved in a transaction…
Q: Adapt the two-sided search model to include government activity as follows. Suppose that the…
A: Two-sided search model The two-sided search model refers to the supply of labor and demand of them…
Q: Indicate if the following statement is True or False “The basis for building a Pareto is the…
A: A scenario in which resources cannot be transferred to benefit one individual without injuring at…
Q: Disjoint and overlapping constraints are two different types of rules.
A: The process of extracting shared attributes from two or more classes and integrating them into a…
Q: The results expressed in the Bertrand model are often referred to as the “Bertrand Paradox.” Why do…
A: Bertrand model is defined as a model of Oligopoly , where the firm independently chooses the prices…
Q: Explain why the cost structure associated with many kinds of information goods and services might…
A: The cost structure is the sum of the various types of fixed and variable costs that make up a…
Q: College Retirement Equities Fund (CREF) is a pension fund that has billions of dollars invested in…
A: Below is the given information: *CREF has an investment in the stock market. *Vote to limit on the…
Q: Two companies produce similar items for the same market. Company 1 produces q₁ items and Company 2…
A: Given information Demand function P=100-q1-q2 C1=7q1--- firm 1's cost C2=10q2-- firm 2's cost Firm…
Q: Suppose low-risk individuals are risk-averse enough to fully insure at premiums high enough for…
A: By risk aversion people mean conduct that represents an agent's reluctance to take certain risks…
Q: If A has TIOLI power in an exchange, which of the following are true? a. Person A will capture most…
A: Making time-restricted offers is a typical retail valuing technique. Monetary hypothesis infers that…
Q: Why or how can you explain Card and Krueger's findings?
A: David Card and Alan Krueger, Princeton economists, discovered that raising the minimum wage does not…
Q: Why would I use a one-tailed (directional) hypothesis? What are the limitations of using a…
A: When performing a null hypothesis to test the significance level, a researcher needs to analyze the…
Q: What is the Coase theorem? What are its implications?
A: Coase Theorem & Example As per the Coase hypothesis, despite market shortcomings coming about…
Q: explain Stolper-Samuelson Theorem with diagram
A: Stopler Samuelson hypothesis links product costs and factor costs. A fall in the overall cost of a…
Q: What is the outcome of the Stolper-Samuelson Theorem??? Account for lessons derived and offer…
A: The Stolper-Samuelson theorem was derived in the context of the H-O trade theory. This theorem was…
Q: Consider the Grossman-Rossi Hansberg model of offshoring. There are two goods: X and Y. Good X…
A:
Q: 47. Consider an exchange economy with two goods and two agents. Agent 2's utility is as above. The…
A: Pareto efficient allocations refer to those equilibrium points deviation from which cannot make…
Explain the Stolper-Samuelson theorem and Rybczynski theorem.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Indicate if the following statement is True or False “The basis for building a Pareto is the 80/20 rule. Typically, approximately 80% of the causes result from approximately 20% of the problems.” True FalseWhat does the Heckscher-Ohlin theorem say? Does the theorem make intuitive sense? Why / why not?Why or how can you explain Card and Krueger's findings?
- For a certain company, the cost function for producing x items is C(x)=40x+150 and the revenue function for selling x items is R(x)=−0.5(x−90)^2+4,050. The maximum capacity of the company is 130 items. The profit function P(x) is the revenue function R(x) (how much it takes in) minus the cost function C(x) (how much it spends). In economic models, one typically assumes that a company wants to maximize its profit, or at least make a profit! 1. Assuming that the company sells all that it produces, what is the profit function? P(x)= 2. What is the domain of P(x)? 3. The company can choose to produce either 50 or 60 items. What is their profit for each case, and which level of production should they choose? 4. Can you explain, from our model, why the company makes less profit when producing 10 more units?Consider the following Stackelberg model. There are two firms in the market. Firm 1 is the leader and firm 2 is the follower. Firms can decide to produce low or high. The extensive-form representation below presents the profits depending on production decisions of firms. The first value is profit of firm 1 and second value is profit of firm 2 depending on their production decisions. Solve using backward-induction. What are the optimal production levels of both firms? Describe how you found the optimal strategy using words.see the imageIn the Heckscher–Ohlin model,describe the Heckscher–Ohlin theorem input version and the output version first, and explain the differences and similarities between the two theories.