Refer to Table 7-3. Select the statement that accurately interprets the data in the table
A) Mateo has an absolute advantage in making spurs.
B) Mateo has an absolute advantage in making saddles and Celeste has an absolute advantage in making spurs.
C) Celeste has an absolute advantage in making saddles.
D) Mateo has an absolute advantage in making spurs and Celeste has an absolute advantage in making saddles.
C
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Suppose the daily demand for Coke and Pepsi in a small city are given by QC = 90 - 100PC + 400(PP - PC) and QP = 90 - 100PP + 400(PC - PP), where QC and QP are the number of cans Coke and Pepsi sell, respectively, in thousands per day. PC and PP are the prices of a can of Coke and Pepsi, respectively, measured in dollars. The marginal cost is $0.45 per can for both Coke and Pepsi. What is Pepsi's inverse demand function?
A. PP = (0.18 + 0.8PC) - 0.002QP B. QP = (0.18 + 0.8PC) - 0.002PP C. PP = (90 + 400PC) - 0.002QP D. QP = (90 + 400PC) - 0.002PP
Imposing a new $10 downtown parking tax a. would be a negative incentive that might have the positive result of reducing downtown congestion. b. would be a positive incentive that might have the positive result of reducing downtown congestion. c. would be a negative incentive that could only have negative results
d. None of the above is true.
In some parts of the United States, sugar beets are grown and harvested. The process of producing usable sugar from the beets generates foul-smelling smoke. A government policy that limits the emission of smoke by sugar-beet-processing firms is an example of
a. a market-based policy. b. a command-and-control policy. c. tradable pollution permits. d. transaction costs.
The sale of goods abroad at a price below their cost and below the price charged in the domestic market is called
A) priming. B) coping. C) invading. D) dumping.