If some industries exhibit increasing returns to scale in each country, we should not expect to see
A) intraindustry trade between countries.
B) perfect competition in these industries.
C) interindustry trade between countries.
D) Either B or C.
B
Economics
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Kelly graduates and her income increases by $25,000 a year. Other things remaining the same, she increases the quantity of clothes she buys. For Kelly, clothes are ________
A) an inferior good B) a normal good C) a substitute good D) a complement good
Economics
___________ unitary elasticity in either a supply or demand curve refers to a situation where a price change of one percent results in a quantity change of one percent.
a. Inconsistent b. Constant c. Locked d. Temporary
Economics