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.
Herbivore biomass is positively correlated with net aboveground primary production.
Block Diagram of a Dual-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Seme
Are good deeds selfish?
Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ...
Good hand and body mechanics when applying thumb pressure to the back.
World Crude Oil Production and Reserves (Billions of Barrels)