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

Author Question: For each watch that Switzerland produces, it gives up the opportunity to make 50 pounds of ... (Read 85 times)

fnuegbu

  • Hero Member
  • *****
  • Posts: 539
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?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mohan

  • Sr. Member
  • ****
  • Posts: 362
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

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Three Sushi Does Not Make an EggRoll Three Sushi Does Not Make an EggRoll
Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu
How many pounds of yeast must the manufacturer start with to obtain 550 lb at the end of 12 h? How many pounds of yeast must the manufacturer start with to obtain 550 lb at the end of 12 h?
You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. ... You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. ...
How to make pancakes How to make pancakes
Curved spines make cocklebur (Xanthium) fruits stick to the fur of animals (and clothing of humans) Curved spines make cocklebur (Xanthium) fruits stick to the fur of animals (and clothing of humans)
Video: Lipid catabolism - lipolysis and beta oxidation and oxidation of fatty acids

For a complete list of videos, visit our video library