According to strategic trade policy, international trade largely involves firms which:
a. enjoy monopolistic power in the domestic market.
b. has a high initial cost of production.
c. pursues economies of scale.
d. experiences diseconomies of scale.
e. generates adequate employment in the domestic economy.
Question 2
One country will have a comparative advantage over another if its production possibilities
a. frontier is higher.
b. curve has a different slope.
c. curve lies closer to the origin.
d. curve lies farther from the origin.
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