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4. Demonstrate that if the markets for two commodities are in equilibrium, the third market must also be in equilibrium.
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- 1. Write down an exchange economy model with two individuals and two goods, in whichthere is no consumption externality. State and explain the key assumptions of the model.Using the model, answer the following questions:(a) Explain carefully how the concept of Pareto efficiency differs from that of socialwelfare.(b) State the Second Theorem of Welfare Economics and explain carefully why it holds.What is the importance of the assumption of convex preferences to this theorem?Which are the five conditions for occur exchange ?5. Consider an exchange economy with 2 agents and 2 goods.
- I WANT C AND D. is assumed that there exist two goods x and Z.P and PPF represent production PF possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each will specialize in. (c) Please derive the relative supply of X goods in terms of Z. (d** Bonus) If there exist an unlimited numbers of counterparts in the world, what does the relative supply of X goods look like? ( please simply explain the reason)country 2. It is assumed that there exist two goods X and Z. PPFH and PPFF represent production possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. Z PPFH PPFF X (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each…Q) How do we establish an economic Equivalence.? Solve it early I upvotewhy is the market for recycled aluminium good and the market for plastic bad in the US? Depict this with a firm input choice model. I understand that recycled plastic decreases in qualiy everytime it is recycled while aluminium does not and can be recylced without the decrease in quality, but I dont know how to depict this graphically
- An economy produces two goods ,X and Y .lt uses two means of production, labour and capital. A unit of labour can produce either 1unit of X or 4units of Y (or linear combination of the two).A unit of capital can produce either 4units of X or 1unit of Y (or linear combination of the two)there are 100units of each means of production. (i) Draw the production possibility frontier of the economy when the two goods can only be produced by a mixture of both factors. (ii)What will be the opportunity cost of X if the economy produces 50units of X ? (iii) Given that the production technology is linear ,will the opportunity cost of X remain unchanged when we produce 90units of X ? (iv)Briefly explain the difference between the PPC with a constant opportunity cost and the PPC with an increasing opportunity cost as more output of one good is produced. Use a well labeled diagram to explain your answer?8. a) Theoretically derive and explain the efficient markets hypothesis. b) Distin gu ish between informational efficiency, valuation efficiency an d allocative efficiency. c) Explain the jointhypothesis problem in relation to testing efficien cy of fin ancial markets.Why in Pure Specific Factors only Owner of A benefits but in Mixed both owners of K and owners of A will benefit?
- 5 Three Goods Consider a pure exchange economy with three goods: x1, x2 and x3. Consumer A’s utility function is U A = min {x1, x2}. He starts with one unit of x1 and none of the other goods. Consumer B’s utility function is U B = min {x2, x3}. He starts with one unit of x2 and none of the other goods. Consumer C’s utility function is U C = min {x1, x3}. He starts with one unit of x3 and none of the other goods. Find the general equilibrium prices and allocation(on puw Directions/ lestructions Evaluate a wrtten text basd Name Acantfao Assessment Directions: ldentify the function of communication in each of the following situations. Write your answer on the space provided before each number. 1. Samantha shares her travel stories to her classmate during break time. 2. Mr. Lorenzo describes the main features and characteristics of each planet in our Solar System. 3. The president delivers a moving speech to help him pave the path for a better and progressive Philippines. 4. The guidance counsellor reprimands the two students who skipped classes after lunch break. 5. Ana tries to calm her best friend who just broke up with her boyfriend. 6. Boyet shares his struggles in school to his father. 7. Mrs. Santos tries to accommodate her son's friends in their home. 8. The security officer reminds the public of the things they should do in case of an emergency evacuation. 9. Mang Tomas visits his friend who has just arrived from Vietnam. 10. Eman, the…this response. Question 36 Ben Solo and Jerry Jones both produce cones and ice cream. Their production possibilities are shown below. They are considering trading. Ben Jerry Cones Cones 6 4. A 3 0 1 2 Ice Cream Ice Cream (If you can't see the image of want to see a larger versioh click here.) Give an example of a trade price where both would benefit from trade. cones per unit of ice cream. A Moving to another question will save this response.