Suppose an American worker can make 100 chairs or catch 1000 fish per day. On the other hand, a Chilean worker can produce 40 chairs or catch 400 fish per day. The United States possesses a(n) _______________ advantage in chair production, but not a(n) ______________ advantage in fish production.

Persuasive advertising is the type of advertising that

A. is used to induce a consumer to discover previously unknown tastes and preferences. B. is used exclusively on television. C. is used exclusively on radio. D. emphasizes the features of its product.

Refer to the above figure. The firm will just be covering all of its variable cost but none of its fixed cost

A. at prices between $1 and $2. B. when the price equals $1. C. when the price equals $2. D. when the price equals $4.