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Author Question: Refer to Table 2-18. Which of the following statements is true? A) Mickey has a comparative ... (Read 35 times)

charchew

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on: Jun 29, 2018
Refer to Table 2-18. Which of the following statements is true?
 
  A) Mickey has a comparative advantage in making both products.
  B) Minnie has a comparative advantage in making both products.
  C) Minnie has a comparative advantage in making hats and Mickey in making umbrellas.
  D) Mickey has a comparative advantage in making hats and Minnie in making umbrellas.

Question 2

Refer to Figure 4-10. What area represents the deadweight loss after the imposition of the ceiling?
 
  A) J + H B) C + E C) C + E + J + H D) G + H


jomama

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

D

Answer to Question 2

B


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