Answer:
0.40
Explanation:
The four firm concentration ratio = 10%+ 10% + 10% + 10% = 40% =0.40
I hope my answer helps you
Answer:
Countries that engage in trade will tend to specialize in the production of goods and services in which they have <u>COMPARATIVE</u> and will <u>EXPORTS</u> these goods and services.
Explanation:
Countries will trade the goods in which they have a comparative advantage in their production, that means that the opportunity cost of producing them is lower compared to other countries. Gains resulting from trade are not based on absolute advantages since resources are limited for everyone, so a country must produce and export the goods at which their opportunity cost is the lowest.
Answer:
the value of the goods that were given up to produce the bicycle.
Explanation:
Opportunity cost is the cost of the next best option forgone when one option is chosen over other alternatives.
the opportunity cost of purchasing the bicycle is the value of other things that could have been bought instead of the bicycle
Answer:
Anyone who is injured by a defective product may sue the manufacturer, merchants, and all others who handled the product.
Explanation:
Strict liability means that an injured party may sue another even when they don not prove a case against them. A party is held liable for injuries from a certain activity.
For example a company that produces tools may be held liable when the machinery it produces causes injury during use by the injured party.
The injured party need not prove negligence of the defendant.
In this instance MakerMan Manufacturing is liable for the hammer that injured one of Rob's coworkers while they were using it.
Strict Liabilities are classified into 3: animals owned, product liability, and abnormally dangerous acts.
