A monopoly has a. A perfectly elastic demand curve b. A ...

[lb_gilbert]

A monopoly has
 a. A perfectly elastic demand curve
  b. A perfectly elastic supply curve
  c. A downward sloping demand curve
  d. A upward sloping demand curve

Question 2

US and Canada can both grow wheat and can do mining. Use the following table to look for which country has a comparative advantage in mining. (HINT: Find the cost of mining in terms of wheat in each country.) Absolute Cost in US Absolute Cost in Canada Wheat 5 C8 Mining 10 C12
 a. Canada has a comparative advantage in mining.
  b. The US has a comparative advantage in mining.
  c. No comparative advantage in mining exists for either nation.
  d. We must first know the exchange rate to be able to answer this question.
  e. Both a and b.

[sultana.d]

Answer to Question 1

c

Answer to Question 2

a

[lb_gilbert]

Correct answers!

[sultana.d]

Great! Please up vote