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International Trade 178代写 国际贸易代写

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International Trade 178代写

International Trade 178

40 points

International Trade 178代写 1.Which of the following statements is true?a. If the price of X exceeds the price of Y, then workers would prefer to work in X .

Q1. [ 8 points] Multiple Choice

1.Which of the following statements is true?

a. If the price of X exceeds the price of Y, then workers would prefer to work in X .

b. If the marginal product of labor in X exceeds that of Y, then workers would prefer to work in X.

c. If the price of X times the marginal product of labor in Y exceeds the price of Y times the marginal product of labor in X, then workers would prefer to work in X.

d. If the price of X times the marginal product of labor in X exceeds the price of Y times the marginal product of labor in Y, then workers would prefer to work in X.

2.Which of the following represents the opportunity cost of X in terms of Y?

a. Px/Py = MPLx/MPLy

b. Py/Px = MPLx/MPLy

c. Px/Py = MPLy/MPLx

d. Py/Px = MPLy/MPLx

International Trade 178代写
International Trade 178代写

a. Cloth is labor intensive.

b. Food is labor intensive.

c. Both food and cloth are labor intensive.

d. Both food and cloth are capital intensive.

4.

Suppose that a country uses labor and capital to produce cars and food. Assume that the Y-axis represents food production and the X-axis represents the cars production. Which of the following statements is True?

a. If the labor constraints curve is steeper than the capital constraints curve, then opportunity cost of Y of labor constraints exceeds that of the capital constraints.

b. If the labor constraints curve is steeper than the capital constraints curve, then opportunity cost of X of labor constraints exceeds that of the capital constraints.

c. If the labor constraints curve is flatter than the capital constraints curve, then opportunity cost of X of labor constraints exceeds that of the capital constraints.

d. None of the above.

Q2. [ 8 points] True/ False  International Trade 178代写

1.The best optimal production of two goods is where the isovalue line is tangent to the labor constraints.

2.To produce one more yard of X , you need 1/MPLCx hours of labor.

3.A country produces two goods: X ( X-axis) and Y ( Y-axis). When the price of x is doubled ( 2x) and the price of Y is tripled( 3x), the isovalue curve becomes steeper.

4.If you increase the total amount of labor, the labor constraints curve becomes flatter.

Q3. [ 10 points]  International Trade 178代写

A country produces two products: X and Y. If the marginal product of labor MPL in X production is 4 units. Please answer the following questions:

a. If the price of X is triple the price of Y. Find the marginal product of labor for Y ( MPLy) so workers don’t move from Y to X or vice versa?

b. Use your answer in ( a) to find the opportunity cost of X? Show your work.

c. If the price of X per unit exceeds the price of Y by $2. Furthermore, assume that the marginal product of Y is 6 units and the marginal product of labor for X is 4 unit. Find the price of Y that equates the wages in both products; X and Y?

Q4. [ 10 points]  International Trade 178代写

A country produces two goods: furniture ( F) and coffee ( C) . Given the information below, please answers questions a to c:

-1 machine (units of capital) are required to produce 1 unit of furniture.

-1 machine (units of capital) are required to produce 1 unit of coffee.

-2 Workers (units of labor) are required to produce 1unit of furniture.

-4 Workers (units of labor) are required to produce 1 unit of coffee.

-Total amount of labor: 260 workers.

-Total amount of capital: 100 machines.

a. Write down the labor and capital constraints formulas?

b. Draw both the labor and capital constraints? Show the PPF curve with no input substitution?

c. Find the opportunity cost of furniture and coffee in both for both labor and capital constraints?

Q5. [ 4 Points]  International Trade 178代写

6 workers and 4 machines are required to produce 2 computers. 2 workers and 2 machines are required to produce 2 units of tomato.

a. Find the labor and capital requirement per one computer and 1 unit of tomato?

b. Which industry is a labor intensive? Capital intensive?

 

International Trade 178代写
International Trade 178代写

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