Business, 06.11.2019 21:31 cherryice68
In 1821 david ricardo wrote that: england may be so circumstanced, that to produce the cloth may require the labour of 100 men for one year; and if she attempted to make the wine, it might require the labour of 120 men for the same time. . to produce the wine in portugal, might require only the labour of 80 men for one year, and to produce the cloth in the same country, might require the labour of 90 men for the same time. it would therefore be advantageous for her to export wine in exchange for cloth. this exchange might even take place, notwithstanding that the commodity imported by portugal could be produced there with less labour than in england. suppose that the amount of labor ricardo describes can produce 1,000 yards of cloth or 2,000 bottles of wine in either country. then answer the following: 1. what is england’s marginal product of labor in cloth and in wine, and what is portugal’s marginal product of labor in cloth and in wine? which country has absolute advantage in cloth, and in wine, and why? 2. use the formula pw/ pc = mplc/ mplw to compute the no-trade relative price of wine in each country. which country has comparative advantage in wine, and why?
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Business, 21.06.2019 22:20
Amachine purchased three years ago for $720,000 has a current book value using straight-line depreciation of $400,000: its operating expenses are $60,000 per year. a replacement machine would cost $480,000, have a useful life of nine years, and would require $26,000 per year in operating expenses. it has an expected salvage value of $130,000 after nine years. the current disposal value of the old machine is $170,000: if it is kept 9 more years, its residual value would be $20,000. calculate the total costs in keeping the old machine and purchase a new machine. should the old machine be replaced?
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In 1821 david ricardo wrote that: england may be so circumstanced, that to produce the cloth may re...
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