International trade based on external scale economies in both countries is likely to be carried out by
A) a relatively large number of price competing firms.
B) a relatively small number of price competing firms.
C) a relatively small number of imperfect competitors.
D) monopolists in each country.
E) a large number of oligopolists in each country.
A
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Jewelers are willing to hold large inventories of diamonds
a. because the demand for diamonds is large and growing b. because that minimizes the fixed cost of producing diamond jewelry c. because, given monopoly control of the market for diamonds, they are confident that the price of diamonds will not plummet rapidly d. because, given monopoly control of the market for diamonds, they are confident that the price of diamonds will rise rapidly e. because that is what their customers expect them to do
The U.S. balance of trade has been in a large surplus since 2001
a. True b. False Indicate whether the statement is true or false