The concept of economies of scale becomes especially _____________ to international trade when it enables one or two large producers to supply the entire country.
a. problematic
b. unrelated
c. relevant
d. unproductive
c. relevant
The concept of economies of scale becomes especially relevant to international trade when it enables one or two large producers to supply the entire country.
You might also like to view...
Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
a. Make sure that your competitor clearly understands your actions and intentions b. Make sure that your competitor keeps guessing about your actions and intentions c. Make sure you keep your actions and intentions ambiguous d. All of the above
Which of the following is an example of a physical constraint?
a. The work you can perform on 1,500 calories a day. b. The wages you can earn against each hour of work. c. The bank balance of an individual at any point of time. d. The contract price at which you agree to sell your house.
If an artisan sells handmade jewelry at a craft fair
A. and does not report the income earned to the Internal Revenue Service, GDP is understated. B. and does not report the income earned to the Internal Revenue Service, GDP is overstated. C. and reports the income earned to the Internal Revenue Service, GDP is understated. D. and reports the income earned to the Internal Revenue Service, GDP is overstated.
Rent-seeking behavior refers to actions by landlords to pressure the government into subsidizing rent for its low-income residents.
Answer the following statement true (T) or false (F)