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

Author Question: Refer to Table 2-16. Finland has a comparative advantage in the production of A) neither product. ... (Read 88 times)

bucstennis@aim.com

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
Refer to Table 2-16. Finland has a comparative advantage in the production of
 
  A) neither product. B) both products. C) lumber. D) cell phones.

Question 2

In perfect competition, what is the relationship between the demand for the firm's output and the market demand?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

robbielu01

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The market demand curve for the goods and services in a perfectly competitive market is downward sloping. However, no single firm in this market can influence the price at which it sells its output. This point means a firm that is a price taker must take the equilibrium market price as given, and the firm faces a perfectly elastic demand.


bucstennis@aim.com

  • Hero Member
  • *****
  • Posts: 532
Reply #2 on: Jun 29, 2018
Thank you :)


robbielu01

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

An Estimate of the Time of Global Peak Conventional Oil Production An Estimate of the Time of Global Peak Conventional Oil Production
Walk around the head of the table to the left side and reach across to perform threecount stroking ... Walk around the head of the table to the left side and reach across to perform threecount stroking ...
Cereal production in Africa may decrease by as much as 50% by 2080 in some areas Cereal production in Africa may decrease by as much as 50% by 2080 in some areas
Role of Factors of Production in Determining Output per Worker, 2009 Role of Factors of Production in Determining Output per Worker, 2009
To find the derivative use product rule To find the derivative use product rule
Table - Analysis Table - Analysis
Video: Immune responses Animation

For a complete list of videos, visit our video library