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1 pts Question 10 Switzerland can produce 800 tons of chocolate per month if it devotes all of its resources to chocolate and
Question 11 1 pts The demand schedule below lists the quantity demanded at each price in a monopolists market. The monopolis
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Answer #1

10. b. Switzerland; Switzerland
(As Switzerland can produce more chocolates so it has an absolute advantage in chocolates.
In Switzerland, opportunity cost of 1 chocolate = watches given up/chocolates produced = 400/800 = 0.5 unit of watch
In Germany, opportunity cost of 1 chocolate = watches given up/chocolates produced = 400/600 = 0.67 unit of watch
So, Switzerland has a comparative advantage in chocolates because of lower opportunity cost.)

11. 3
(As 3 consumers have willingness to pay > MC, so, it would be able to sell 3 units.)

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