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Author Question: Refer to the table above. If the world price for a pair of trousers is 12, then which of the ... (Read 17 times)

robinn137

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on: Jun 29, 2018
Refer to the table above. If the world price for a pair of trousers is 12, then which of the following statements is true?
 
  A) All the four countries will export trousers.
  B) All the four countries will import trousers.
  C) Country A and Country B will import trousers, whereas Country C and Country D will export trousers.
  D) Country C and Country D will import trousers, whereas Country A and Country B will export trousers.

Question 2

For a natural monopoly to cover its total cost, its price must equal its
 
  A) average total cost.
  B) marginal cost.
  C) demand.
  D) total fixed cost.
  E) marginal revenue.


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af

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

D

Answer to Question 2

A


robinn137

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Reply #2 on: Jun 29, 2018
Thank you :)


af

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Reply #3 on: Jun 29, 2018
Happy to help you


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