The way economists would probably explain the wastage of
this clam resource is by saying that clams are free goods and are therefore
subject to the tragedy of the commons effect. The tragedy of the commons effect
is a theory in economics, postulated by the Victorian economist William Forster
Lloyd.
The tragedy of the commons effect describes a condition
within a shared-resource system where each user act freely according to their
own self-interest, but their collective actions ends in the depletion or spoilage
of that resource, thus having a negative impact on the common good of all users.
In this case, commons is taken to refer to the clam resources.
A=p(1+rt)
A=future value
P=present value
R=interest rate
T=time
If you want to find present value
P=A/(1+rt)
If you want to find interest rate
R=[(A/p)-1]divided by t
Finally if you want to find time
T=[(A/p)-1]divided by r
$41,600
is the correct answer
please give brainliest
Answer:
The Ricardian Model as described by David Ricardo is a model which explains trade between two countries and the products which they are most likely to export. The answer to your problem is given below.
Explanation:
(a) Calculate the autarky price of Goods in both countries: pG, and p*G.
The autarky price here means a price at which there will be no trade between the two countries:
Data:
The marginal product of labor in service industry of home country:
MPLS = 1
The marginal product of labor in goods industry of home country:
MPLG = 1
The marginal product of labor in service industry of foreign country:
MPLS* = 1/4
The marginal product of labor in goods industry of foreign country:
MPLG* = 1/2
The price of services in home country is:
Ps = $2
The price of goods in foreign country is:
Ps* = 12 Pesos
As per current exchange rate, the value of 12 Pesos is equal to $0.63.
source: https://mxn.currencyrate.today/usd/12
Thus,
Ps* = $0.63
The autarky price of goods in both countries are calculated as follows:
Ps/PG = MPLS/MPLG
2/PG = 1/1
PG = $2
And,
Ps*/PG* = MPLS*/MPLG*
0.63/PG* = (1/4)/(1/2)
PG* = $1.26
Answer:
The correct answer is consumer inertia.
Explanation:
Custom and inertia are what guide consumers' purchases. It is not a demanding buyer, but a person who goes to the supermarket and chooses what is most familiar to them, whether they have seen it on television or at a friend's house. They are usually a product of daily use where there is hardly any difference between the different brands.
