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Homework answers / question archive / 1)What are some examples of entrepreneurs you are familiar with who are diamonds, stars, transformers, and rocket ships? 2)with reference to the extract, discuss two methods of generating business ideas that resulted in Airbnb

1)What are some examples of entrepreneurs you are familiar with who are diamonds, stars, transformers, and rocket ships? 2)with reference to the extract, discuss two methods of generating business ideas that resulted in Airbnb

Economics

1)What are some examples of entrepreneurs you are familiar with who are diamonds, stars, transformers, and rocket ships?

2)with reference to the extract, discuss two methods of generating business ideas that resulted in Airbnb.

3)Consider the following information regarding the production possibilities of France and Germany. You may assume that both countries face constant opportunity costs.

France

Germany

Crepes

Sausages

Crepes

Sausages

20

0

24

0

10

8

12

18

0

16

0

36

You may assume that each of these production plans is efficient, and that both countries face constant opportunity costs. Suppose that eggs, an important ingredient in making Crepes but not Sausages, become much less expensive in France, but there is no change in Germany. Then

   

a.France has comparative advantage in producing Crepes both before and after the change in egg prices.

   

b.France has comparative advantage in producing Crepes before the change in egg prices, but either country could have comparative advantage in producing Crepes after the change in egg prices.  

   

c.Germany has comparative advantage in producing Crepes both before and after the change in egg prices.  

   

d.Germany has comparative advantage in producing Crepes before the change in egg prices, but either country could have comparative advantage in producing Crepes after the change in egg prices.  

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