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

Author Question: Prior to international trade, the price of good X is lower in country A than in country B. This ... (Read 125 times)

pepyto

  • Hero Member
  • *****
  • Posts: 547
on: Jun 29, 2018
Prior to international trade, the price of good X is lower in country A than in country B. This means that we know that
 
  A) country B has an absolute advantage in the production of product X.
  B) country B has a comparative advantage in the production of product X.
  C) country A has an absolute advantage in the production of product X.
  D) country A has a comparative advantage in the production of product X.

Question 2

A good with a horizontal demand curve has a demand
 
  A) with an income elasticity of demand equal to 0.
  B) with a price elasticity of demand equal to 0.
  C) with a price elasticity of demand equal to infinity.
  D) for which there are no substitutes.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

BUTTHOL369

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


pepyto

  • Member
  • Posts: 547
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

gcook

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Woman (formerly a.k.a. the Venus of Willendorf), Lower Austria. Woman (formerly a.k.a. the Venus of Willendorf), Lower Austria.
Renzo Piano Building Workshop, International departures lounge, Kansai International Airport, Osaka, ... Renzo Piano Building Workshop, International departures lounge, Kansai International Airport, Osaka, ...
Checking the voltage drop between the TP sensor ground and a good engine ground with the ignition ... Checking the voltage drop between the TP sensor ground and a good engine ground with the ignition ...
Nuts are also a good source of B group vitamins (including folate), and vitamin E Nuts are also a good source of B group vitamins (including folate), and vitamin E
International space station. International space station.
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library