Refer to Table 2-4. Which of the following statements is true?
A) George has an absolute advantage in both tasks.
B) Jack has an absolute advantage in both tasks.
C) Jack has an absolute advantage in lawn mowing and George in garden cultivating.
D) Jack has an absolute advantage in garden cultivating and George in lawn mowing.
A
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Suppose the Busy Bee Café is the monopoly producer of hamburgers in Hugo, Oklahoma. The above figure represents the demand, marginal revenue, and marginal cost curves for this establishment
What price will the Busy Bee charge to maximize its profit? A) $5.00 for a hamburger B) $3.00 for a hamburger C) $2.00 for a hamburger D) $1.00 for a hamburger E) $4.00 for a hamburger
Public goods: a. Can be both produced and financed by the private sector
b. Can be both produced but not easily financed by the private sector c. Cannot be produced but can be financed by the private sector. d. Cannot be produced or easily financed by the private sector.