Answer:
A) buy the product in Hong Kong and sell it in Shenzhen so eventually the price in Shenzhen will decrease and the price in Hong Kong will increase
Explanation: when the price of the product in Shenzhen reduces due to the low priced product being sold in same place the high priced is sold, this would even out the demands and the price of that in Shenzhen would be dragged down to be able to compete with that of the low priced.
Answer:
D) intangibility
Explanation:
in this case, the whitening service offered by the dentist has an intangible characteristic since there is no tangible product or service that their potential customers can see, touch, taste, hear or smell. The service offered is something that the potential customers must imagine, i.e. they have to imagine how they would look like if their teeth were whiter.
Answer: See explanation
Explanation:
a. For every Peep, 3 Mike and Ikes can be produced
b. Check the attachment
c. An efficient production point is (on the) production possibility curve.
An inefficient production point is (inside) the production possibility curve.
An impossible point is (outside) the production possibility curve.
d. If if JustBorn candies developed a technology that increased productivity by one third for both products, then there will be a shift in the production possibility frontier outwards.