Only a firm with ________ will be able to make their output profitably.
A. the highest opportunity cost of production
B. low variable costs
C. a comparative advantage at producing their output
D. an absolute advantage at producing their output
Answer: C
Economics
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What will be an ideal response?
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In Figure 10-5 above, suppose that new tougher environmental regulations require certain industries to accelerate their phase-out of some of their existing equipment and install new types that produce less pollution
Translating this into an effect on d causes a movement of the steady-state point such as from points A) A to B. B) D to B. C) D to C. D) A to C. E) D to A.
Economics