If a CEO can type faster than her secretary, then
A) the CEO has a comparative advantage in typing.
B) the CEO has neither a comparative advantage in typing, nor in management.
C) the CEO should still continue performing CEO duties since the CEO has a comparative advantage in management, and the secretary should continue typing.
D) the CEO should still continue performing CEO duties as well as typing since he has a comparative advantage in both management, and typing.
C
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Once a firm has determined the quantity of output it wishes to sell, the maximum price it can charge for each unit is determined by:
A. the demand curve facing the firm. B. the average cost of making the product. C. the marginal cost of making the product. D. the firm's marginal revenue curve.
A main trading partner with the U.S. is:
A. Hungary. B. Russia. C. Italy. D. Canada.
If there are no profits in competitive equilibrium, why do firms produce? How can they stay in business?
A “single tax” on land was proposed in the nineteenth century by
A. Lloyd George. B. Henry George. C. George Washington. D. George Sands.