A country has a comparative advantage in the production of DVD players if it can produce DVD players at a lower opportunity cost than others
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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In an industry characterized by a natural monopoly, which of the following characteristics will be observed?
a. The long-run average cost curve will be upward sloping. b. The market price of the product will be very low. c. Competition is both impossible and inefficient. d. Number of producers operating in this market will be low.
Economics
For which of the following would purchasing power parity have the least relevance?
a. Pens b. Toothpicks c. Paper clips d. Pencils e. Shoe shines
Economics