Answer to Question 1
Countries that do not have an absolute advantage in the production of a good can also benefit from trade. Even if a country cannot produce more of a good compared to other countries, it can still gain from the trade of that good as long as it has a comparative advantage in production. Comparative advantage is the ability of an individual, firm, or country to produce a certain good at a lower opportunity cost than other competing producers. So long as opportunity costs are not the same across countries, one country will always have a comparative advantage in producing some goods and the other country other goods.
Answer to Question 2
Long-run competitive equilibrium exists in an industry when price is equal to short-run marginal cost, short-run average cost, and long-run average cost. This implies that firms are earning zero profits.
Example of a cladogram, or branching order, of the New World monkey Superfamily Ceboidea.
Which of the following statements is true of linkage?
Good body mechanics for lifting heavy objects.
Good body mechanics for sitting on chair while performing massage. A. Sit with back and head in ...
Nuts are also a good source of B group vitamins (including folate), and vitamin E
Nonshivering heat production