Homework Answers
Savings (Option C) seems most apt. This is because the other three directly affect the cost of production and thereby the opportunity cost. Savings, on the other hand, although important in determining investments, doesn't affect the cost of production directly.
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There are three sources of comparative advantage. Which does not belong to them? Select one: O...
All but one of the following is a comparative advantage of financial intermediaries: a. ability to...
All but one of the following is a comparative advantage of financial intermediaries: a. ability to achieve economies of scale. b. ability to reduce transaction costs. c. ability to reduce information asymmetry. d. exploit moral hazard in lending relationships.
2. The two main sources of competitive advantage are reducing costs or differentiation of the product....
2. The two main sources of competitive advantage are reducing costs or differentiation of the product. For each item below, specify which strategy (low cost or product differentiation) is more favorable? Explain briefly a. b. C. d. Economies of scale exist that are not yet exploited by competitors Economies of scale exist but are already exploited by competitors Homogenous product with limited opportunities for enhanced benefit Some consumers are willing to pay a price premium for certain attributes
If each country specializes in producing those goods in which it has a comparative advantage, then...
If each country specializes in producing those goods in which it has a comparative advantage, then Select one: a. each country will be self-sufficient b. world output will be maximized c. the consumption possibilities for the world will be reduced d. all countries will have the same standard of living. e. rich countries will get richer and poor countries will get poorer Evidence indicates that tariffs and quotas are Select one: a. beneficial for producers in a protected industry, but...
Which of the following is NOT TRUE of station groups? Some of them operate all their...
Which of the following is NOT TRUE of station groups? Some of them operate all their stations the same, while others exert minimal control over day-to-day operations. (True) They are groups of stations that are all affiliated with the same network. They can be any organization that owns or operates more than one TV and/or radio station. (True) They can often take advantage of cost-savings due to economies of scale. (True)
An organization may decide to continue to produce a good or service in-house rather than outsource: Select one: O a. to...
An organization may decide to continue to produce a good or service in-house rather than outsource: Select one: O a. to control the quality of customer service and to reduce risk. O b. to reduce risk. O c. to control the quality of customer service, to reduce risk and because of a lack of technical expertise in- house. d. to control the quality of customer service O O e. because of a lack of technical expertise in-house.
91. While comparative advantage is the biggest reason many nations engage in trade, two other important...
91. While comparative advantage is the biggest reason many nations engage in trade, two other important reasons are a. economies of scale and increased competition. b. economies of scale and decreased competition. c. increased competition and increased production costs. d. increased production costs and access to smaller markets. e. decreased competition and access to smaller markets. Use the following scenario to answer the following question: Rosa and Dirk produce basketballs and footballs. Rosa can produce six basketballs per hour or...
Which of the following vitamin does not have a known risk of toxicity? Select one: O...
Which of the following vitamin does not have a known risk of toxicity? Select one: O A. vitamin A B. vitamin D O C. vitamin K O D. vitamin E
Which one is true for ABC Corp. that produced 100 million units of its product at...
Which one is true for ABC Corp. that produced 100 million units of its product at an average cost of $6 last year, and in this year it expanded its plant capacity and produced 200 million units at an average cost of $7, that it is experiencing: Select one: O a. dis-economies of scale O b. economies of scale c. increasing marginal product O d. neither economies of scale or dis-economies of scale
QUESTION 15 Which component of the GDP does the following transaction belong to? Delaware pays for...
QUESTION 15 Which component of the GDP does the following transaction belong to? Delaware pays for new road construction. A. Consumption B. Investment C. Government Expenditures D. Net Exports C. Government Expenditures D. Net Exports QUESTION 16 Which component of the GDP does the following transaction belong to? A family buys a large pizza, breadsticks, and soda from a local pizzeria. A. Consumption B. Investment C. Government Expenditures D. Net Exports QUESTION 17 Which component of the GDP does the...
The concept of "comparative advantage" refers to the A) ability of one region to produce a...
The concept of "comparative advantage" refers to the A) ability of one region to produce a commodity at a lower opportunity cost than another region. O B) gains from international trade. O C) ability of one region to produce a commodity with less labour input than another region. O D) ability of one region to produce a commodity with fewer total inputs than another region. The increase in a nation's output and consumption that result from specializati trade are called...
2. The two main sources of competitive advantage are reducing costs or differentiation of the product. For each item below, specify which strategy (low cost or product differentiation) is more favorable? Explain briefly a. b. C. d. Economies of scale exist that are not yet exploited by competitors Economies of scale exist but are already exploited by competitors Homogenous product with limited opportunities for enhanced benefit Some consumers are willing to pay a price premium for certain attributes
An organization may decide to continue to produce a good or service in-house rather than outsource: Select one: O a. to control the quality of customer service and to reduce risk. O b. to reduce risk. O c. to control the quality of customer service, to reduce risk and because of a lack of technical expertise in- house. d. to control the quality of customer service O O e. because of a lack of technical expertise in-house.
Which of the following vitamin does not have a known risk of toxicity? Select one: O A. vitamin A B. vitamin D O C. vitamin K O D. vitamin E
Which one is true for ABC Corp. that produced 100 million units of its product at an average cost of $6 last year, and in this year it expanded its plant capacity and produced 200 million units at an average cost of $7, that it is experiencing: Select one: O a. dis-economies of scale O b. economies of scale c. increasing marginal product O d. neither economies of scale or dis-economies of scale
QUESTION 15 Which component of the GDP does the following transaction belong to? Delaware pays for new road construction. A. Consumption B. Investment C. Government Expenditures D. Net Exports C. Government Expenditures D. Net Exports QUESTION 16 Which component of the GDP does the following transaction belong to? A family buys a large pizza, breadsticks, and soda from a local pizzeria. A. Consumption B. Investment C. Government Expenditures D. Net Exports QUESTION 17 Which component of the GDP does the...
The concept of "comparative advantage" refers to the A) ability of one region to produce a commodity at a lower opportunity cost than another region. O B) gains from international trade. O C) ability of one region to produce a commodity with less labour input than another region. O D) ability of one region to produce a commodity with fewer total inputs than another region. The increase in a nation's output and consumption that result from specializati trade are called...
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