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Author Question: If the gadget industry is a constant cost industry, one would expect that the long run result of an ... (Read 119 times)

jjjetplane

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on: Jun 30, 2018
If the gadget industry is a constant cost industry, one would expect that the long run result of an increase in demand for gadget to include ____ firms and a(n) ____ in price.
 a. more; increase.
 b. more; no change.
  c. more; decrease.
 d. fewer; increase.

Question 2

Countries import goods in which they have:
 a. an absolute advantage.
  b. a comparative advantage.
  c. a reputation for good product quality.
  d. a comparative disadvantage.
  e. a surplus domestic production.


todom5090

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


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jjjetplane

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Reply #2 on: Jun 30, 2018
Thank you :)


todom5090

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Reply #3 on: Jun 30, 2018
Happy to help you


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