Baseball teams shut down in the winter. This is an example of
A) permanently leaving the industry because price is less than average fixed cost.
B) temporarily leaving the industry because price is less than average variable cost.
C) temporarily leaving the industry because price is less than average fixed cost.
D) permanently leaving the industry because price is less than average variable cost.
B
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Suppose that in Belize, the opportunity cost of producing a sailboat is 5 hang gliders. In Honduras, the opportunity cost of producing a sailboat is 8 hang gliders
a. What is the opportunity cost of producing a hang glider for Belize? b. What is the opportunity cost of producing a hang glider for Honduras? c. Which country has a comparative advantage in the production of hang gliders? d. Which country has a comparative advantage in the production of sailboats?
Frictional unemployment is due to a mismatch between peoples' skills and job requirements
Indicate whether the statement is true or false