What is meant by the international competitiveness
Determine what is meant by the international competitiveness? Discuss how does this concept apply to an industry, a firm and a nation?
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Assume small aircraft arrive at the certain airport according to the Poisson process. The mean time between arrivals of small aircrafts is 0.25 hour.
Briefly describe the theory of reciprocal demand. Discuss how does it provide a meaningful explanation of the international term of trade?
Explain what factors give rise to increasing returns to scale and decreasing returns to scale? Describe and then derive the expression for the marginal rate of technical substitution.
Suppose you buy only bananas and apples. Your budget is such that you can purchase three apples and four bananas or nine apples and two bananas.
Describe a worker's labor-leisure choice associated with a wage decrease (assuming non labor income does not change). Demonstrate the income and the substitution effect associated this wage change on an appropriate graph.
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Determine the primary reason that economists view monopolies as a problem? Is this different than you would have expected? Discuss what methods are available to mitigate the impact of monopolies?
Customers who buy on credit pay an effective annual interest rate of 16.1% at the Central Furniture Company, based on the monthly compounding, determine the nominal annual interest rate that they pay?
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