The ability of a firm to raise the price without losing all its sales to rivals is called

Which of the following is not a reason for international trade?

a. Differences in resource endowments b. Diseconomies of Scale c. Differences in tastes d. All of the above are reasons for international trade.

Number of workersUnits of output0012525539541255150Refer to Table 5.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product is maximized when the firm hires:

A. 2 workers. B. 3 workers. C. 4 workers. D. 5 workers.