Answer:
a. Dave has a COMPARATIVE ADVANTAGE in the production of sweaters.
Explanation:
If both Dave and Caroline produce sweaters and socks. If Dave's opportunity cost of producing 1 sweater is 3 socks, and Caroline's opportunity cost of producing 1 sweater is 5 socks, then Dave has a COMPARATIVE ADVANTAGE in the production of sweaters.
Comparative advantage can be defined as an economy's ability to produce goods and/or services at a lesser opportunity cost than other countries.
In the end comparative advantage gives a country the ability to sell those goods and services that he could produce at lower opportunity costs; cheaper to other countries.
This definition adequately describes the position of Dave in relation to caroline, in the given Scenario.
Billing.cost.price value . products metrial
activity Data
Answer:
Yes, service companies have advantages in the use of this type of tools compared to production companies.
Explanation:
These companies can make massive use of social networks to increase their coverage and satisfaction, and this is achieved by identifying the needs of people to be able to offer services with security and confidence. Any person can require insurance of any kind at least once in their life, and it is at this point that it must be established in such a way that all the offer for which potential customers can decide is known.
Insurance companies have a great advantage over other sectors, and that is that they can easily offer their services through electronic means, online advertising, banners, etc., on the other hand, a company that is dedicated to producing must establish a penetration strategy offering its services or products to potential stakeholders who identify themselves in the sector.
Answer: .(i) nominal variables, but not real variables
Explanation:
According to classical macroeconomic theory, changes in the money supply affect the nominal variables but the real variable are not affected.
According to the classical macroeconomic theory, it us believed that an increase in money supply will result into a rise in the availability of money in the market, thereby increasing consumers spending which will also lead to a rise in aggregate demand which in turn, causes inflation.
Thereby the nominal variables will be changed.
Answer:
Option (B) is correct.
Explanation:
Producer surplus is defined as the difference between the current market price of a good and the amount or cost incurred by the firm to produced the good. If the producer will be able to get the higher price for a good than the full cost of production of that good then he will earn the producer surplus.
Graphically, the producer surplus is represented by the flat top.
