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Author Question: Country A can produce 1 cello by giving up the production of 5 guitars. Country B can produce 1 ... (Read 81 times)

laurencescou

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on: Jun 29, 2018
Country A can produce 1 cello by giving up the production of 5 guitars. Country B can produce 1 guitar by giving up the production of 4 cellos. In which good does country A have a comparative advantage?
 
  A) guitars
  B) cellos
  C) both goods
  D) neither good

Question 2

To maximize its profit, a firm will hire more workers as long as
 
  A) marginal revenue exceeds the wage rate.
  B) marginal revenue is less than the wage rate.
  C) value of marginal product exceeds the wage rate.
  D) marginal product exceeds the wage rate.


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emilymalinowski12

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


laurencescou

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

bassamabas

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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