Business, 10.07.2019 16:30 neirabrandon516
Susan can pick 4 pounds of coffee in an hour or gather 2 pounds of nuts. tom can pick 2 pounds of coffee in an hour or gather 4 pounds of nuts. each works 6 hours per day. assume that tom and susan specialize according to their comparative advantage to produce coffee and nuts. a. suppose that susan and tom could buy or sell coffee and nuts in the world market at a price of $2 per pound for coffee and $2 per pound for nuts. if each person specialized completely in the good for which he or she had a comparative advantage, how much could they earn by selling all they produce (tom's earnings plus susan's earnings)
Answers: 1
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The boston hotel high-end linens 600-thread-count sheets coffeemaker and selected teas imported beer fresh-squeezed juices affordability food and drink double-thick bath towels silk pillowcases raw silk curtains with gold embellishments $100/night four-star rooms free snacks, shampoo, and conditioner free wireless internet
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Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right
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Susan can pick 4 pounds of coffee in an hour or gather 2 pounds of nuts. tom can pick 2 pounds of co...
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