Elucidate the gains that have occurred before specialization
Elucidate the gains that have occurred using the resources as before specialization?
Expert
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.
The dataset used in this question contains data on 180 economics journals for the year 2000. The variable descriptions are as follows: logoclc - log of the number of library subscription loglibcit - log of the library subscription price per citation.
What are the determinants of demand?
“The legal form an enterprise assumes is dictated primarily by the financial requirements of its particular line of production.” Do you agree?
Illustrate the 3rd the government redistributes income?
Why possession protection of property rights and private property promotes the market system?
Describe briefly Low financial leverage, low operating leverage?
A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin
What happens to the demand curve when each of these determinants changes?
Speculators decrease price volatility through, in effect, changing demand curves: (w) out at low prices, and shifting supply curves out at high prices. (x) out at low prices, and shifting supply curves within at low p
What are the dependencies in U.S. and World Trade?
18,76,764
1956146 Asked
3,689
Active Tutors
1422111
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!