The above table shows some cost data for Tracey's Tents. What is the average fixed cost when 4 tents are produced?

An industry is characterized by scale economies, and exists in two countries. Should these two countries engage in trade such that the combined market is supplied by one country's industry, then

A) consumers in both countries would have more varieties and lower prices. B) consumers in both countries would have higher prices and fewer varieties. C) consumers in the importing country only would have higher prices and fewer varieties. D) consumers in the exporting country only would have higher prices and fewer varieties. E) consumers in both countries would have fewer varieties at lower prices.

Products can be differentiated

A. if the buyers are homogeneous and their number increases. B. only by brand name. C. by location and by brand name. D. none of these.