Price p* Pw A B Q's D S 1 D Quantity

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Problem 19-03 (algo) The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative D and for the United States is alternative S. China Production Possibilities ok Product A B D E F Apparel 80,000 64,000 int Chemicals (tons) 0 32 48,000 64 32,000 96 16,000 128 160 rences Product Apparel Chemicals (tons) U.S. Production Possibilities R 240,000 0 S T 192,000 144,000 48 96 U 96,0000 144 W 48,000 0 192 240 Instructions: Enter your answers as whole numbers. a. Are comparative-cost conditions such that the two countries should specialize? Yes If so what product should each produce?

For all questions, refer to the graph on the reverse side.  Use this graph for 1 – 4.  The graph represents the market for coffee.  Estimation may be necessary, so show work.   Assuming the market outcome, and a world price of $6.50 calculate the following:  Price = $6.50 Qddom = 60 units Qsdom = 160 units Imports or exports = Qs is greater than Qd so the country ia an exporter. Export is 100 units Redo all parts of #1 assuming a world price of $3.50.  Redo all parts of #1 assuming a world price of $3.50 and a tariff of $0.50.  Redo all parts of #1 assuming a world price of $3.50 and a quota of 60.

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lescription is incorrect ( ) A According to the overlapping demand theory, the intra-industry trade between countries with large income gap will be less. 0307 The theory of comparative advantage helps to explain the intra-industry trade between developed countries. The smaller the difference of factor endowments between two countries, the greater proportion of intra-industry trade should be.

Q)Why does russia have the comparative advantage in oil? Explanation it correctly and in detail

[Basic static analysis of trade] Construct a simple model of the (wholesale) market for wheat globally, and in Australia. Provide a brief but clear explanation to accompany your diagrams, and reflect on what access to international trade means for Australian farmers, food manufacturers (e.g. bakeries) and food consumers (i.e. households).

Gains and Losses from Trade in the Specific-Factors Model - End of Chapter Problem Home produces two goods, computers and wheat, for which capital is specific to computers, land is specific to wheat, and labor is mobile between the two industries. Home has 100 workers and 100 units of capital but only 10 units of land. a. Suppose that when Home opens up to international trade, the price of computers rises. In the accompanying diagram, shift the appropriate curve to show this change, holding the price of wheat constant. b. The increase in the price of computers causes the Wage amount of labor used in wheat production a given quantity of labor 0 W The amount of labor used in computer production the change in the wage. L --> LLL" curve to shift vertically by PMPLC P_MPL W W <-C .... while the The vertical shift of the P MPL curve at

1) Discuss some of the complex problems brought  by the modern food industry upon agricultural workers and our planet as illustrated in the documentary you viewed this week: "Seed: The Untold Story".  2) Do you think the Covid-19 pandemic has exposed some of the problems in the way our global food chain functions? What are two of these problems and your proposed solutions to them?