Which of the following is TRUE about comparative advantage?
A) Comparative advantage explains trade among nations, but not within nations.
B) Comparative advantage explains trade within nations, but not among nations.
C) Comparative advantage explains trade within nations and among nations.
D) Comparative advantage has nothing to do with trade among nations; it only is concerned with specialization within a firm.
C
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According to this Application, what percentage of parts in the Ford Fiesta came from parts suppliers in the United States and Canada in 2015?
A) 90% B) 70% C) 55% D) 35%
In the figure above, if pizza production increases to 15,000 pizzas a day, then marginal benefit ________ marginal cost, and ________ occurs
A) exceeds; overproduction B) exceeds; underproduction C) is below; overproduction D) is below; underproduction E) exceeds; efficient production