If it costs the DuPont Chemical Company more to make the chemical flaxinate in the United States than it does to make it in Formosa, the Formosans must have:
a. lower demand for flaxinate.
b. tariffs on flaxinate.
c. inefficient markets.
d. a more favorable political environment.
e. an absolute advantage in flaxinate production.
e
You might also like to view...
Eurodollars are mainly traded in Europe
Indicate whether the statement is true or false
Majority rule will produce the outcome most preferred by the median voter
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT an example of natural monopoly?
A. water systems B. electricity transmission C. local telephone services D. farm products
If the own-price elasticity of demand is -1.25, in order for the manufacturer of Ragu to increase total revenue, at least in the short run, it would be advisable to
A) Can't tell; insufficient information B) Raise the price of Ragu. C) Lower the price of Ragu. D) Do nothing.