Under the British Navigation Acts, enumerated goods were a list of colonial _______
a. exports showing how dependent the British were on the colonies.
b. imports showing how dependent the colonies were on Britain.
c. exports that had to be shipped through British middlemen.
d. exports that were reserved for the crown.
d. exports that were reserved for the crown.
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Deterring entry might require a firm to
A) price their product closer to the competitive price than to the monopoly price. B) price their product closer to the monopoly price than to the competitive price. C) drop output almost to zero to show the consumers "who's boss." D) drop price almost to zero to get price below marginal cost.
Germany and France can produce the amounts of wine and beer indicated in the table below with one unit of land. Each country has 10 units of land
Does either country have an absolute advantage? Which country has a comparative advantage in beer production? Which country has a comparative advantage in wine production? Is it possible for the two countries to benefit from trade? Country Beer Wine France 2 4 Germany 10 1