What matters most in determining efficient distribution of production over the world is
A. absolute advantage.
B. efficiency.
C. the stock of resources.
D. comparative advantage.
Answer: D
Economics
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What will be an ideal response?
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The production decisions of perfectly competitive firms follow one of the Ten Principles of Economics, which states that rational people
a. consider sunk costs. b. equate prices to the average costs of production. c. prefer to purchase products from smaller rather than larger firms. d. think at the margin.
Economics