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Dmitriy789 [7]
3 years ago
6

Suppose that Spain and Denmark both produce rye and wine. Spain's opportunity cost of producing a bottle of wine is 5 bushels of

rye while Denmark's opportunity cost of producing a bottle of wine is 10 bushels of rye. By comparing the opportunity cost of producing wine in the two countries, you can tell that_______has a comparative advantage in the production of wine and___ has a comparative advantage in the production of rye. Suppose that Spain and Denmark consider trading wine and rye with each other. Spain can gain from specialization and trade as long as it receives more than _______of rye for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than_________ of wine for each bushel of rye it exports to Spain.Based on your answer to the last question, which of the following terms of trade (that is, price of wine in terms of rye) would allow both Denmark and Spain to gain from trade? Check all that apply. a. bushel of rye per bottle of wineb. 8 bushels of rye per bottle of winec. 9 bushels of rye per bottle of wined. 3 bushels of rye per bottle of wine
Business
1 answer:
34kurt3 years ago
6 0

Explanation:

By comparing the opportunity cost of producing wine in the two countries, you can tell that Spain has a comparative advantage in the production of wine and Denmark has a comparative advantage in the production of rye.

Spain can gain from specialization and trade as long as it receives more than 5 of rye for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than 1/10  of wine for each bushel of rye it exports to Spain.

The terms of trade (that is, price of wine in terms of rye) would allow both Denmark and Spain to gain from trade :

9 bushels of rye per bottle of wine

8 bushels of rye per bottle of wine

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Explanation:

The greatest objective and benefit of a modern industrial society according to Taylor was the transformation of management into a science, which should maintain the standardization of administrative processes in order to reduce production time and maintain the quality of work.

He developed the rational organization of work, a tool for researching human labor conditions, such as division of labor, specialization, standardization, supervision, salary incentives, etc., whose aim was to analyze how such factors influence productivity and the quality with which a worker perceives and performs his work.

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If the price of a product increases, the demand for the resource used in producing that product decreases.
valentina_108 [34]

Economists call this the law of demand. As the price of a product increases, the quantity demanded decreases (but the demand itself remains the same). If the price falls, the quantity demanded will increase.

Resource Prices – Rising resource prices lead to a decrease in supply or a leftward shift in the supply curve. Falling resource prices lead to an increase in supply or a rightward shift in the supply curve.

An increase in demand shifts the demand curve to the right and a decrease in supply shifts the supply curve to the left.

A decrease in demand leads to a decrease in the equilibrium price. Less quantity to deliver. An increase in supply leads to a  product decrease in the equilibrium price, all other things being equal. Demand increases.

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2 years ago
Dividends in arrears are dividends on A. cumulative preferred stock that have been declared but have not been paid. B. non-cumul
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Answer:

The correct answer is letter "A": cumulative preferred stock that have been declared but have not been paid.

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a rational decisionmaker takes an action if and only if the marginal cost exceeds the marginal benefit.
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<h3>A rational decisionmaker takes an action if and only if:?</h3>

The marginal cost is a term that refers to the change in the total cost that takes place as a direct consequence of an increase in the quantity of a product or service that is produced.

In the field of economics, this phrase refers to the amount of money that must be spent in order to produce one more unit of output.

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CQ

A rational decisionmaker takes an action if and only if:

a) The marginal benefit of the action exceeds the marginal cost of the action

b) The marginal cost of the action exceeds the marginal benefit of the action,

c) The marginal cost of the action is zero,

d) The opportunity cost of the action is zero

7 0
10 months ago
Five firms are currently producing and selling in a market. When two more firms enter the market, economists expect that the equ
Vilka [71]

Answer:

Decrease, Increase

Explanation:

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So, when 2 firms will be entering the market, the economist expect that the equilibrium price will decrease or fall and fall in the price leads to increase in the quantity, so the equilibrium quantity will increase.

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