How do two countries benefit from trading with each other?

Q: Back in the 1950s, General Motors (GM) was at its peak. It was widely viewed as a shining example of…

A: Market is the place where seller and buyers exchange  the goods and services at given price level .…

Q: According to the economic quality level model, the pursuit of higher levels of quality will result…

A: Introduction Its answer is true because when the level of quantity is higher then it will decrease…

Q: . The estimated useful life of the concrete building is 60 years with no nee ir cost for the first…

A: *Answer:  Service life of RCC building = 60years Service life of steel building = 20years

Q: Tom has the following utility function: U = FC2 where F is food and C is clothing. Show that…

A: 1. U = FC2 1. Marginal Rate of Substitution (MRS) is the rate at which a good is sacrificed to get…

Q: Consider a trader i has following utility function: u;(x1, X2) = x† xª, 1-a where x; refers to the…

A: Introduction Here utility function of a trader has given. Utility function of a trader: ui ( x1 ,…

Q: If Mark produces five pairs of shoes, his total costs are   a. $400 b. $370 c. $360 d. $320

A: Total cost is the sum of fixed cost and variable cost.

Q: In 2018, nominal gross domestic product (GDP) in the United States grew 5.2% However, inflation was…

A: Nominal GDP is the market value of final goods and services produced during a given period of time…

Q: If there is a shortage of a good, how will the market mechanism adjust to achieve equilibrium? O a.…

A: Self-adjusting mechanism:- A method which can return the economy to "ordinary" after a disruption…

Q: Suppose there is a firm with at least some market power that supplies the same product to two…

A: According to the question,  There is a firm with some market power.  It supplies one particular…

Q: Choose the letter of the correct answer.     ____1. It is designed to measure the response of…

A: (1). The correct option is D. Elasticity is designed to measure the response of quantity demanded…

Q: Does the role of price vary with the type of situation?

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: What is the relationship between supply and demand?

A: Supply and demand is an economic model of price setting in a market in microeconomics.

Q: The coconut oil demand function (Bushena and Perloff, 1991) is Q=1,200-9.5p+16.2pp+0.2Y, where Q is…

A: Demand function: Q=1200-9.5p+16.2pp+0.2Y P value=55 PP value=29 Q=1375 Please find the image…

Q: If Bob invests $100,000 in Tesla stock and he earns 15,000, what is the rate of return of his…

A: Given , Investment = $100,000 Earnings = $15,000 Now, we have to calculate the rate of return.

Q: 1. Anything that satisfied someone. A. Needs                              C. Desires B. Wants…

A: Satisfaction is a feeling of an individual when he buys consumer goods and services. Note: since…

Q: Say you wish to withdraw 10,000 pesos per year for 10 years starting next year. How much should you…

A:

Q: Which fiscal policy would make a budget surplus smaller or a budget deficit larger? lower government…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Price (Dollars per Garment) 7 D E 5 AC=MC Demand Marginal Revenue 10 20 Garments cleaned per year…

A: In perfect competition there are large number of firms and in monopolistic market there is only one…

Q: An international or global competitor can strive to gain competitive advantage or counteract…

A: An international competitor refers to when an entity competes in another country. In this, the…

Q: 2. Using the aggregate demand and supply model (AD & AS), begin with an economy in a recession…

A: The total quantity of demand for all completed items and services produced in a given economy is…

Q: spending is the part of the budget that works its way through Congress each year and includes…

A: Governments, organizations, and people all use budgets to estimate income and spending for a certain…

Q: Depending on whether Brian and Edison both choose to fish either nonintensively or intensively, fill…

A: Any resource that is scarce and provides users with tangible benefits to which no person has an…

Q: The maximum possible weekly average product of labor in the plant is

A: Formula for average product/output: Average product = Total product / Number of worker

Q: According to Degree of Integration (Give the definition of each and Examples) Customs Union

A: International trade refers to the free movement of goods and services, jobs, capital, technology,…

Q: ete the following table with the action each firm will take at this permit price and the amount of…

A: 1) Cost of eliminating two term of pollution by every firm, Firm X 280+300 580 Firm Y 600+720…

Q: A company decides to purchase an industrial gas turbine which costs forty thousand. Additional costs…

A: Life cycle cost (LCC) is a methodology that surveys the complete cost of a resource over its life…

Q: Suppose that GDP is $8 billion, taxes are $1.5 billion, private saving is $0.5 billion, and public…

A: Aggregate expenditure is the sum of consumption, investment and government spending in a closed…

Q: The following are operations of thrift banks except * A. Lending operations B. Investment banking…

A: Then talking about thrift banks, it can be said that these banks differ from commercial banks in…

Q: Elon Musk's The Boring Company wants to invest in a subway to be constructed in Metro Manila to…

A: maglev bullet difference(in percentage) capital investment 46,100,000 75,000,000 61% annual…

Q: 1. If the marginal product equals the average product of physicians, then the average product of…

A: Marginal product is the additional output produced by employing an additional unit of input.

Q: In the long-run, any perfectly competitive firm that produces will choose a quantity such that

A: The market is a location where the transaction of services and commodities takes place. It is…

Q: 1. These are factors affecting the supply to increase and decrease, except one. A. Technology…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Consider the following types of firms. For each one, the long-run average cost curve eventually…

A: Diseconomies of scale occur when the per-unit cost of producing goods or services increases with the…

Q: How do you convert a series of nominal economic data over time to real terms?

A: When studying economic statistics, it's critical to understand the difference between real and…

Q: By the condition of a will, the sum of 25 000 pesos is left to a girl to be held in trust by her…

A: Present value = 25000 Future worth = 45000 pesos Interest rate = 8 % compounded quarterly Quarterly…

Q: 35 Which of the following is TRUE about exchange rates? A They are more volatile than several…

A: Exchange Rate Volatility:-   The regularity and magnitude of variations in a value of currency is…

Q: Suppose that GDP is $8 billion, taxes are $1.5 billion, private saving is $0.5 billion, and public…

A:

Q: 3) A certain warehouse is worth P700,000. The average value of the merchandise in the warehouse is…

A: Cost of insurance Annually : Warehouse = 1% of 700,000 = 7000 Merchandise = 0.9% of 600,000 = 5400…

Q: Medicaid utilizes O personal funds that are matched by federal government to help low-income…

A: Medicaid is providing  financing for hospitals, community health centers, physicians, nursing homes.…

Q: An equipment cost P 700 has a life of 8 years and a salvage value of X after 8 years.  The book…

A: Depreciation is the amount loss of fixed assets over period of time . There are various method to…

Q: What is breakeven point and HOW TO CALCULATE THE BREAKEVEN POINT?

A: In economics, some specfiic terms are used to explain the specfiic market situations, such as shut…

Q: Suppose that soon after Denmark pegs to the euro, the Eurozone benefits from a favorable shift in…

A: It refers to the value of a country's currency in relation to another country's currency or an…

Q: With prices p1, p2, and income y: 1. Draw demand curve for good 1, and Engel curve, given ? =…

A:

Q: at happens to the firm's marğinal revenue as it sėlls additional unit =ct one: a. Marginal revenue…

A: A monopolist can't generally discriminate impeccably between purchasers, since it doesn't have a…

Q: A man wishes his son to receive  200 000 pesos ten years from now. What amount should he invest if…

A: There are two periods need to consider .  1st period is the 1st 5 years in which there are different…

Q: areas HUD f. a U.S. government program that guarantees health coverage to most people who are over…

A: Social security programs is offered to the population to ensure the economic support by the…

Q: We're leaving the competition behind! Cuppy's Coffee Drive Thru Cafe is the only coffee outlet…

A: The market is a location where the transaction of services and commodities takes place. It is…

Q: An untreated wooden pole that will last 10 years under a certain soil condition costs P 12,000. If a…

A: Return on Investment or ROI is defined as the measure of performance that is generally used for the…

Q: The only owner-supplied input in a corporation is its equity, which is the value of the…

A: ANSWER: OPTION C(incurred an economic loss of $30,000). EXPLANATION: ECONOMIC PROFITS : *It is…

Q: What impact do the political systems of each country have on their efforts toward international…

A: When talking about international trade, it can be seen that the trade in international market is…