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Author Question: Suppose the U.S. can produce 10 units of food and 5 units of clothing (or any such linear ... (Read 45 times)

tatyanajohnson

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Suppose the U.S. can produce 10 units of food and 5 units of clothing (or any such linear combination) and Canada can produce 6 units of food and 4 units of clothing (or any such linear combination). If trade occurs between these two countries, which should produce more food and which more clothing?
 
  What will be an ideal response?

Question 2

If there are diseconomies of scale within a given range of output, which of following is (are) TRUE?
 
  A) The short-run average cost curve must be upward sloping within that range of output.
  B) The long-run average cost curve must be upward sloping within that range of output.
  C) Long-run average cost must equal short-run average cost.
  D) All of the above.


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Perkypinki

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tatyanajohnson

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it


Zebsrer

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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