Consider trade between two countries that have the following…
Consider trade between two countries that have the following unit labor requirements for the production of cheese and wine: Home Foreign ac= 10 ac*= 6 aw= 1 aw*= 2 L = 200 L* = 120 a) Which country has an absolute advantage in cheese/wine and which country has a comparative advantage in cheese/wine? What are the relative prices of cheese at Home and in Foreign assuming they are in autarky (closed economies)? b) If consumer preferences are given by U( xc , xf ) = xc2/3xf1/3 , find the equation for the relative demand curve. Use this to find the free trade price if both countries engage in free trade. Would both countries gain from trade?
Read DetailsPOC 1 – Neurosensory Math Ciara, age 7, is admitted for a he…
POC 1 – Neurosensory Math Ciara, age 7, is admitted for a head injury. She has Solumedrol 8 mg IV every 6 hours prescribed to decrease the inflammation in her brain. Solumedrol is available in a vial concentration of 40 mg/ mL. Ciara’s weight is 22 kg. You calculate that the dose is safe and therapeutic for Ciara’s weight and age. How many mLs would you draw up for Ciara’s 8 mg dose? Please provide only a numeric answer. Reminder: 1. Apply the rounding rules 2. Apply leading zeros 3. Do not use trailing zeros
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