If the ratio of the dollar price of a U.S. toy to the dollar price of a Chinese toy is greater than one:
A) retailers in the U.S. should buy the toys from Chinese suppliers.
B) retailers in the U.S. should buy the toys from both Chinese suppliers and American suppliers.
C) retailers in the U.S. should not buy the toys from both Chinese suppliers and American suppliers.
D) retailers in the U.S. should buy the toys from American suppliers.
A
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Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 210 computers are produced per week. Given this information, there
A) is diminishing marginal product. B) are too many workers. C) are not enough workers. D) is increasing marginal product.
If minimum average cost is the same over a large range of output,
a. the market will evolve into a natural monopoly b. minimum efficient scale is large as well c. only a few large firms will survive in the long run d. smaller firms have a cost advantage over larger firms e. firms of varying sizes can coexist