According to the Heckscher-Ohlin (HO) model the source of comparative advantage is a country's
A) technology.
B) advertising.
C) factor endowments.
D) Both A and C.
C
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If all firms in the industry have similar demand, marginal revenue, and cost curves as the firm in the figure above, in the long run
A) nothing changes. B) some firms exit the industry and the economic losses of the remaining firms decrease. C) some firms exit the industry and the economic profits of the remaining firms increase. D) new firms enter the industry and the economic losses of the original firms decrease. E) new firms enter the industry and the economic profits of the original firms increase.
If output is increased beyond the point where total profit is maximized,
a. marginal profit will be zero. b. marginal profit will be negative. c. marginal profit will be positive. d. MR > MC.
(Appendix) In the production function Q = 10L1/2K1/2, if the inputs are quadrupled, are there economies of scale? 
.
What will be an ideal response?
Which is not a determinant of supply?
a. The existing state of technology used by the firm b. The level of government taxes and subsidies c. The cost of resources used in production d. The market price of the good