Author Question: Which of the following factors is least likely to affect what goods and services countries end up ... (Read 17 times)

mynx · **on:** Jun 30, 2018

Which of the following factors is least likely to affect what goods and services countries end up trading in the international market?
a. International trade tariffs
b. Government debt levels
c. Comparative advantages
d. Differences in tastes
e. Different technological needs

Question 2

A monopolistically competitive firm faces a relatively-elastic demand curve as compared to a monopolist firm because of the:
a. presence of a large number of buyers and barriers to entry.
b. presence of a large number of firms and easy entry into the market.
c. production of perfectly homogeneous products.
d. production of unique products and the presence of barriers to entry.
e. production of goods that are perfect complements of each other.