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Oxana [17]
2 years ago
15

"distinguish between an absolute advantage and a comparative advantage. cite an example of a country that has an absolute advant

age and one with a comparative advantage.
Business
1 answer:
xxTIMURxx [149]2 years ago
5 0

Answer:

Distinguish between an absolute advantage and a comparative advantage is discussed below.

Explanation:

Absolute advantage and a comparative advantage

  • Absolute advantage concentrates on the marginal cost of reproduction of an asset whereas comparative advantage characteristically concentrates on the opportunity cost of production.
  • Trading judgments based on comparative advantage between nations are forever respectively advantageous.

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In the perfectly competitive gadget industry there are 10 firms with identical costs given by C = 500 + 20q + q2, none of which
IgorC [24]

Answer:

The explanation is below

Explanation:

A.  Shutdown point is achieved when price equal AVC. when price lowers than the AVC, firm shutdown.

VC = q^2

AVC = q

So,

P = q is the shutdown point.

B.  For profit maximizing level of output,

P = MR = MC

500 = 20 + 2q

q = 240 units

So, profit maximization level of output = 240 units

C.  Firm level supply curve = MC curve above the shutdown point

Number of firms = 5

So,

Industry supply curve = 10*MC = 200+20Q

Industry supply curve = 200+20Q

It shows that MC curve above the shutdown point is supply curve.

4 0
3 years ago
Define customer satisfaction​
zvonat [6]

Answer:

Customer satisfaction is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation.

Explanation:

~hope this helps

7 0
3 years ago
An investment earned the following returns over a four-year period: 28 percent, 21 percent, 1 percent, and -36 percent. What is
riadik2000 [5.3K]

Answer:

A) 0.0618

Explanation:

Variance is given by:

V = \frac{\sum(Xi - \mu)^2}{n}

Where 'Xi' is the value for each term 'i' in the sample of size 'n' and μ is the sample mean.

The mean investment return is:

\mu = \frac{0.28+0.21+0.01-0.36}{4} \\\mu = 0.035

The variance is:

V = \frac{\sum(Xi - \mu)^2}{n}\\V = \frac{(0.28- 0.035)^2+(0.21- 0.035)^2+(0.01- 0.035)^2+(-0.36- 0.035)^2}{4}\\V= 0.0618

The variance of the returns on this investment is A) 0.0618.

4 0
2 years ago
Libby is good at playing the flute and likes the pleasure that music gives to others. as a result, she thinks she might want to
Step2247 [10]

This sounds like the Tentative phase according to Ginzberg. It sounds like Libby is between 11 and 17 as well learning what she likes.

5 0
3 years ago
HELP!!!! Imagine that you have been approved to participate in a cooperative education program. In two or three sentences, indic
Karolina [17]

Answer:free points

Explanation:

4 0
3 years ago
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