Under free trade and comparative advantage, the home country:

a. will see only benefits for its resources.
b. will see only losses for its resources.
c. will see winners and losers within its economy.
d. will be convinced that trade is not beneficial.

Answer: c. will see winners and losers within its economy.

Economics

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DVDs can be produced at a constant marginal cost of $5 per disk, and Roaring Lion Studios is releasing the DVDs for its last two major films. The DVD for Rambeau 17 is priced at $20 per disk, and the DVD for Schreck 10 is priced at $30 per disk

What are the price elasticities of demand for these two movies? A) Both equal -1.2. B) -0.75 and -5/6, respectively C) -1.33 and -1.2, respectively D) -1.33 and -2, respectively

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The law of diminishing marginal utility is consistent with the consumer behavior that produces a negatively sloped demand curve

a. True b. False Indicate whether the statement is true or false

Economics