For purposes of determining comparative advantage, the cost of producing a good in each of two countries is measured in terms of:
a. metric units only.
b. opportunity costs.
c. total costs.
d. the currency of the importing country.
e. the currency of the exporting country.
b
Economics
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How is the total cost of a factory or other production site determined?
(A) Fixed cost plus marginal cost. (B) Fixed cost plus variable cost. (C) Marginal cost plus variable cost. (D) Marginal cost plus output cost.
Economics
Public policies
a. may be able to improve either economic efficiency or equality. b. may be able to improve economic efficiency but cannot improve equality. c. may be able to improve equality but cannot improve economic efficiency. d. cannot improve either equality or economic efficiency.
Economics