Which of the following factors is taken into consideration by David Ricardo's theory of comparative advantage in order to explain the pattern of international trade?
A. Absolute advantage of a country with reference to natural resources
B. The proportions in which the factors of production are available
C. International differences in labor productivity
D. The ability of firms to cope with late-mover disadvantages
E. The ability of firms to capture first-mover advantages
C
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Hisham was a professional classical guitar player until a motorcycle accident left him disabled
After long months of therapy, he hired an experienced luthier and started a small shop to make and sell Spanish guitars. The guitars sell for $900, and the fixed monthly operating costs are as follows: Rent and utilities $800 Wages and benefits to luthier 2,000 Other expenses 474 Hisham's accountant told him about contribution margin ratios, and Hisham understood clearly that for every dollar of sales, $0.65 went to cover his fixed costs, and anything above that point was profit. Hisham wishes to earn $4,000 of operating profit each month. Calculate the number of guitars Hisham will need to sell to achieve the target profit. (Round your answer up to the nearest whole guitar.) A) 3 guitars B) 12 guitars C) 4 guitars D) 13 guitars
A member of ________ has recently gained personal wealth and may experience status anxiety. Such individuals may try to display symbols of their success to make up for an internal lack of assurance about the "correct" way to behave
A) an old money family B) the taste culture C) the nouveau riche D) the mass class