Refer to the above table. Assuming constant opportunity costs
A) neither country will be willing to engage in trade at any rate of exchange of product A for product B.
B) both countries will be willing to engage in trade at a rate of exchange of 0.3 unit of product A for 1 unit of product B.
C) both countries will be willing to engage in trade at a rate of exchange of 3 units of product A for 1 unit of product B.
D) both countries will be willing to engage in trade at a rate of exchange of 1.5 unit of product A for 1 unit of product B.
D
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Refer to Scenario 17.4. If there is no flood insurance and no flood control system is in place, the expected loss from a flood is
A) $5,000. B) $10,000. C) $100,000. D) $200,000. E) $1,000,000.
In a long-run equilibrium in a monopolistically competitive industry that produces information products, revenues are equal to the ________ costs of developing, producing, and selling the product
A) total B) fixed C) variable D) marginal