In intra-industry trade, the level of worker productivity is determined by
a. how firms engage in specific learning about specialized products, including taking advantage of economies of scale.
b. how firms take advantage of climate or geography.
c. how firms take advantage of the general level of education or skill.
d. how firms take advantage of technological advances.
a. how firms engage in specific learning about specialized products, including taking advantage of economies of scale.
You might also like to view...
An organization that converts inputs (like Labor, Capital etc.) into output can be a
A) firm. B) sole proprietorship. C) corporation. D) All of the above.
Behavioral assumptions
a. make economic models more complex than if these assumptions were removed b. pertain only to consumers c. hold all other things constant d. are ways to test a hypothesis e. describe how individuals are expected to behave
Refer to the accompanying figure. An increase in demand is represented by a shift from:
A. curve A to curve B. B. curve D to curve C. C. curve C to curve D. D. curve B to curve A.
Microeconomics is concerned with the market price and equilibrium quantity of each good or service.
Answer the following statement true (T) or false (F)