Comparative advantage is the ability to produce a good at a lower opportunity cost than others
Indicate whether the statement is true or false
True
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A game in which one player's winnings equal the other player's losings is called a
A) tit-for-tat game. B) all-or-nothing game. C) fair-and-balanced game. D) zero-sum game.
Refer to the scenario above. Which of the following is true in this case?
A) Firm A's dominant strategy is to choose Strategy X. B) Firm B's dominant strategy is to choose Strategy Y. C) Firm A chooses Strategy X if Firm B chooses Strategy Y. D) Firm A chooses Strategy Y if Firm B chooses Strategy Y.
In 2015, ZVX motors sold 17,241 units of their latest superbike, the ZVX-1200 . Each ZVX-1200 costs $9,763 to the company, and is sold at a price of $17,255 per unit. The total revenue earned by ZVX motors in 2015 is:
a. $297,493,455. b. $297,442,463. c. $168,323,883. d. $165,131,644.
In the history of banking, warehouse receipts refer to receipts
A) that goldsmiths once issued acknowledging that they held a customer's gold. B) for storing furniture in a warehouse. C) goldsmiths issued to each other when they borrowed gold. D) for storing food and other perishables in a warehouse.