This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: For each watch that Switzerland produces, it gives up the opportunity to make 50 pounds of ... (Read 130 times)

fnuegbu

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
For each watch that Switzerland produces, it gives up the opportunity to make 50 pounds of chocolate. Germany can produce 1 watch for every 100 pounds of chocolate it produces.
 
  Which of the following is true about the comparative advantage between the two countries?
  A) Switzerland has the comparative advantage in chocolate.
  B) Germany has the comparative advantage in watches and chocolate.
  C) Germany has the comparative advantage in watches.
  D) Switzerland has the comparative advantage in watches.

Question 2

Explain why firms' short-run marginal cost curves often initially decreases and then increases.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mohan

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

Diminishing marginal returns and specialization causes the MC curve to be U-shaped.


fnuegbu

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Maze-dull rats did not make significantly more errors than maze-bright rats when both groups were ... Maze-dull rats did not make significantly more errors than maze-bright rats when both groups were ...
Two wells are filled with the same antigen, and when they diffuse to the antibody, they make a line ... Two wells are filled with the same antigen, and when they diffuse to the antibody, they make a line ...
How many pounds of yeast must the manufacturer start with to obtain 550 lb at the end of 12 h? How many pounds of yeast must the manufacturer start with to obtain 550 lb at the end of 12 h?
The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices
Jane was due to make loan payments of S1872 nine months ago, S3074 five month ago, and S498 in ... Jane was due to make loan payments of S1872 nine months ago, S3074 five month ago, and S498 in ...
Analysts expect Virtucon to make payouts of $8.7643B at the end of this year. Assume that all ... Analysts expect Virtucon to make payouts of $8.7643B at the end of this year. Assume that all ...
Video: Heart sounds

For a complete list of videos, visit our video library