Elucidate the gains that have occurred before specialization
Elucidate the gains that have occurred using the resources as before specialization?
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Now each country will have more than they had originally: Mexico now has 25 tons of avocados left plus 10 tons of soybeans. U.S. now has 35 tons of avocados and keeps 20 tons of soybeans. Mexico has gained 1 ton of each; U.S. has gained 2 tons of avocados and 1 ton of soybeans, and these gains have occurred using the same resources as before specialization. This example illustrates that specialization and trade can improve overall output even when one country (U.S.) can produce more of both items compared to the other without trade. Specialization and trade have the same effect as an increase in resources or technological progress.
Explain: “Affluence tomorrow requires sacrifice today.”
When the market price is $25, then the average revenue of selling five units is: w) $5. x) $12.50. y) $25. z) $125. Please guys help me to solve out this type of problem regarding profit in a perfectly competitive market
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Quantity TR TC 0 $0.00 $10.00 1 $150.00 $30.00 2 $290.00 $50.00 3 $420.00 $80.00 4 $540.00 $120.00 5 $650.00 $170.00 6 $750.00 $230.00 7 $840.00 $300.00 8 $920.00 $
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The argument which slicing off one’s pinkie would be extra bothersome to which person than the loss of millions of his brethren was made within A Theory of Moral Sentiments (1755) through: (1) Adam Smith. (2) David Ricardo. (3) Theophrastus Phil
numbers of sellers in pure competition?
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