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Consider the monopoly version of the hidden information problem. Suppose that both agents have the same cost function but different reservation levels of utility. How does the analysis change?
a manufacturer estimates that D(p) = 3000e^-0.05p units of a particular good will be sold at market price of p cedis per unit. determine the market price that will result in marginal revenue of zero
Discuss the monetary approach to the balance of payment. Use graphs also to demonstrate your discussion.25 marks
a manufacturer estimates that D(p) = 3000e^-0.05p units of a particular good will be sold at market price of p cedis per unit. determine the market price that will result in marginal revenue of zero.
Differentiate between partial and multiple correlation
What is meant by factor-intensity reversal? How is this related to the elasticity of substitution of factors in production? Why would the prevalence of factor reversal lead to rejection of the H–O theorem and the factor–price equalization theorem? What were the results of empirical tests on the prevalence of factor reversal in the real world?
What were the results of empirical tests on the relationship between human capital and international trade? Natural resources and international trade? What is the status of the H–O theory today?
What is meant by the Leontief paradox? What are some possible explanations of the paradox? How can human capital contribute to the explanation of the paradox?
Explain why the Heckscher–Ohlin theory is a general equilibrium model.
What does the factor–price equalization theorem postulate? What is its relationship to the international mobility of factors of production?
