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Author Question: If two countries with diminishing returns and different marginal rates of substitution between two ... (Read 81 times)

mrsjacobs44

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If two countries with diminishing returns and different marginal rates of substitution between two products were to engage in trade, then
 
  A) the marginal rates of substitution of both would become equal.
  B) the shapes of their respective production possibility frontiers would change.
  C) the larger of the two countries would dominate their trade.
  D) the country with relatively elastic supplies would export more.
  E) the opportunity costs for the smaller country would increase.

Question 2

The most common form of tariff is a countervailing duty.
 
  Indicate whether the statement is true or false



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dajones82

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Answer to Question 1

A

Answer to Question 2

FALSE




mrsjacobs44

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


Dinolord

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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