A country is likely to have a comparative advantage in a capital-intensive activity if it has a:
A. lot of land relative to its population.
B. large amount of capital relative to its landmass.
C. higher opportunity cost of producing technology.
D. higher amount of labor relative to its population.
B. large amount of capital relative to its landmass.
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The authors note that the goal of maximizing the market value of the firm may be more appropriate than maximizing short-run profits because:
A) the market value of the firm is based on long-run profits. B) managers will not focus on increasing short-run profits at the expense of long-run profits. C) this would more closely align the interests of owners and managers. D) all of the above
A movement along a supply curve is induced by a change in
A) input prices. B) taxes and subsidies. C) price expectations. D) the product's own price.