According to the law of comparative advantage,
What will be an ideal response?
each product should be produced by the lowest opportunity cost producer in order to
maximize output.
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Which of the following is Walmart's competitive advantage in Mexico?
A) Walmart purchased all Mexican retail chains and eliminated competitors. B) Walmart is able to transfer its "everyday low prices" concept to Mexico. C) Walmart offers affordable, unique products for niche markets in Mexico. D) Customers prefer to buy from American companies instead of
To maximize profits, a firm should continue to increase production of a good until:
A. profits are zero. B. total revenue equals total cost. C. average cost equals average revenue. D. marginal revenue equals marginal cost.
PriceQuantity SuppliedQuantity Demanded$00300$110250$250180$390150$4120120$515090$618050 Refer to Table 6.1, which gives the daily supply and demand schedules for cups of coffee at a kiosk in a shopping mall. If there is no tax placed on coffee, how many cups of coffee will be bought and sold?
A. 120 B. 150 C. 90 D. 50
Double taxation of saving may
A. increase the rate of investment. B. increase the rate of economic growth. C. increase the budget deficit. D. reduce the saving rate.