An individual in the US wants to buy a car from England which costs 12,00 . pounds. If the exchange rate is $1.75/pound, how much will it cost him in dollar terms?

Firms in perfect competition sell differentiated products

Indicate whether the statement is true or false

The concept of economies of scale becomes especially relevant to international trade when it enables

a. numerous small producers to supply the entire country. b. one or two large producers to supply the entire country. c. numerous large producers to supply the entire country. d. one or two small producers to supply the entire country.