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Author Question: For each watch that Switzerland produces, it gives up the opportunity to make 50 pounds of ... (Read 112 times)

fnuegbu

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on: Jun 29, 2018
For each watch that Switzerland produces, it gives up the opportunity to make 50 pounds of chocolate. Germany can produce 1 watch for every 100 pounds of chocolate it produces.
 
  Which of the following is true about the comparative advantage between the two countries?
  A) Switzerland has the comparative advantage in chocolate.
  B) Germany has the comparative advantage in watches and chocolate.
  C) Germany has the comparative advantage in watches.
  D) Switzerland has the comparative advantage in watches.

Question 2

Explain why firms' short-run marginal cost curves often initially decreases and then increases.
 
  What will be an ideal response?


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mohan

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

D

Answer to Question 2

Diminishing marginal returns and specialization causes the MC curve to be U-shaped.


fnuegbu

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Reply 2 on: Jun 29, 2018
Wow, this really help

nathang24

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Reply 3 on: Yesterday
Excellent

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