Comparative advantage indicates that:
a. specialization and exchange will permit trading partners to maximize their joint consumption.
b. a nation can gain from trade only if it is not at an absolute disadvantage in producing all goods.
c. a nation can gain from trade only when its trading partners are not low-wage countries.
d. countries should export products for which they are high-opportunity cost producers.
a
Economics
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Which of the following is FALSE for a profit-maximizing single-price monopolist?
A) P = MC B) MC = MR C) P > MR D) None of the above because they are all true.
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All these increase differentiation, except
a. Product branding b. Reducing quality c. Advertising d. Limiting availability
Economics