Answer: B. Jean
Explanation:
Having Absolute Advantage in the production of a good means that you can produce more of that good given the same resources or at least the same Quantity as others given lower resources.
From the scenario above therefore, Jean has the Absolute Advantage in producing Cakes as Jean can bake 12 cakes in an hour while Vincent can only bake 10.
Answer:
The three primary characteristics of perfect competition are (1) no company holds a substantial market share, (2) the industry output is standardized, and (3) there is freedom of entry and exit. The efficient market equilibrium in a perfect competition is where marginal revenue equals marginal cost.
Answer:
c. to eliminate unemployment,B. to promote price stability and F. to control federal spending
Explanation:
Answer:
a) Gold = $1,380; Silver = $1,020
b) Gold = $1,300; Silver = $980
Explanation:
a) At first, with Qg = 60 and Qs = 270, the equilibrium prices for gold and silver are found by solving the following linear system:

Equilibrium price of gold is $1,380 and the price of silver is $1,020.
b) If the supply of gold increases to 120, since the goods are substitutes, there will be an increase in overall supply and the equilibrium price of gold and silver will decrease as follows:

Equilibrium price of gold is $1,300 and the price of silver is $980.
Answer: Not necessarily: The debt ratios are not directly comparable, since each company is in a different industry.
Explanation:
We cannot authoritatively state that even though Boeing has such a high debt rate, that it is a riskier company than either Microsoft or PG&E. This is due to the drawback in ratio analysis of bias if compared across different industries.
Ratio analysis best works when comparing companies in the same industry because their situations will be similar. Comparing across industries can be misleading because different industries operate in different ways. In the Airplane manufacturing business for instance, having a high amount of debt due to having the tangible assets to back it up might be a normal thing.
The debt ratios are therefore not directly comparable because each company is in a different industry.