A country enjoys an absolute advantage in the production of a good if that good can be produced at a lower cost in terms of other goods.
Answer the following statement true (T) or false (F)
False
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A monopoly has
a. A perfectly elastic demand curve b. A perfectly elastic supply curve c. An inelastic demand curve d. A less elastic demand curve than a competitive firm
Foreign direct investment is when:
A. a firm runs part of its operation abroad or invests in another company abroad. B. investors buy foreign financial assets like stocks, bonds, or government securities. C. investment is funded by foreign sources but operated domestically. D. when a foreign government directly invests into a firm.
For endangered species, the federal government
A. has the right to regulate activities on private land to save the species from extinction. B. will capture a pair of animals so that the species does not become extinct. C. can only protect the animal on federal property because of common property issues. D. turns over the protection of an endangered species to the state authorities where the species lives.
Comment on the following: "A monopolist is a firm that can raise its price without experiencing a decrease in its total revenue."
What will be an ideal response?