International trade based solely on internal scale economies in both countries is likely to be carried out by

A) monopolists in each country.
B) a relatively large number of price competing firms.
C) a relatively small number of price competing firms.
D) a relatively small number of imperfect competitors.
E) a large number of oligopolists in each country.

A

Economics

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What would be an example of an implicit cost of production?

a. the cost of a delivery truck in a business that rarely makes deliveries b. the cost of employee training programs c. the cost of raw materials for producing bread in a bakery d. the cost of lost income an entrepreneur could have earned working for someone else

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Alan Krueger conducted a survey of fans at the 2001 Super Bowl who purchased tickets to the game for $325 or $400

Krueger found that (a) 94 percent of those surveyed would not have paid $3,000 for their tickets, and (b) 92 percent of those surveyed would not have sold their tickets for $3,000. These results are evidence of A) the high value fans place on watching the Super Bowl in person, rather than on television. B) the failure of consumers to ignore sunk costs. C) consumers being overly optimistic about their future behavior. D) the failure of consumers to take into account nonmonetary opportunity costs.

Economics