In Table 17.3 Brazile has A. an absolute and comparative advantage in cars. B. a

Question

In Table 17.3 Brazile has A. an absolute and comparative advantage in cars. B. an absolute and comparative advantage in lumber. C. an absolute and comparative advantage in both goods. D. an absolute advantage but not a comparative advantage in lumber. 22. In Table 17.3, A. the united states has an absolute advantage in both goods but a comparative advantage in cars only. B. Brazil has an absolute advantage in both goods but a comparative advantage in lumber only. C. the united States has an absolute and comparative advantage in cars while Brazil has an absolute and comparative advantage in lumber. D. the united states has an absolute and comparative advantage in both goods. 23. Increasing output beyond Q_0 will cause the firm to experience A. Economies of scale B. Diseconomies of scale C. Constant returns to scale D. Network economices E. Decreasing total costs 24. At what level of output does the firm experience economies of scale? A. Above Q_0 B. 0 C. Q_0 D. 0 - Q_0 E. This firm does not exprience economies of scale Assume police officers and prison guards earn $30,000, which of the following is the most efficient way to spend the money? A. Hire a guard? B. Do not spend the additional money

Explanation / Answer

(21) The correct answer is option (C)

(22) The correct answer is option (A)

(23) The correct answer is option (A)

(24) The correct answer is option (A)

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