The social contract theory is a theory that talked about the view of a person's moral and/or political obligations are dependent upon a contract or agreement among them to form the society in which they live in.
it also means, the voluntary agreement among individuals by which, according to any of various theories, as of Hobbes, Locke, or Rousseau, organized society is brought into being and invested with the right to secure mutual protection and welfare or to regulate the relations among its members.
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Based on the information given, it can be noted that Country Y has an absolute advantage in the production of solar panels.
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Absolute Advantage.</h3>
In this case, country Y can produce more solar panels than country X. Therefore, it has an absolute advantage.
The opportunity cost of a furnace in Country Y will be 2 solar panels per furnace. This is what has to be foregone.
Also, it should be noted that country X has a comparative advantage in producing furnaces.
Lastly, when the terms of trade were that 2 furnaces are exchanged for 1 solar panel, Country X should produce solar panels domestically.
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Your descriptors are mostly correct, assuming the column headings are something like ...
... function ... domain ... range ... odd/even ... intercepts ... increasing/decreasing ... ??? ... critical points
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√x is increasing on the interval [0, ∞). There is no branch where the function is decreasing.
1/x has a critical point at x=0. The slope is undefined there.
Sure, I could at least try...but this might get taken down by a mod.
