Which of the following is true?
a. A nation cannot have a comparative advantage in the production of every good.
b. A nation cannot have an absolute advantage in the production of every good.
c. A nation can have a comparative advantage in the production of every good, but not an absolute advantage.
d. A nation can have a comparative advantage in the production of a good only if it also has an absolute advantage.
e. A nation cannot have an absolute advantage in the production of a good unless it also has a comparative advantage.
a
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The demand curve faced by a monopolistically competitive firm that incurs a loss in the short run will shift to the left in the long run
a. True b. False Indicate whether the statement is true or false
Which of the following will not shift a supply curve?
A) a change in the price of relevant resources B) a change in the good's own price C) a change in the number of sellers D) a change in per-unit costs brought about by a change in taxes