Answer: this means that there is fall in price of a goods on the demand market. This is because of price ceiling.
Explanation:
Cincinnati museum center is a center home for Cincinnati history museum and the museum of natural history and science. its located in Cincinnati, Ohio united states. The museum was opened in 1990 at the Cincinnati museum center at the union terminal. However,the lack of financial objective makes it difficult for the Cincinnati museum center to prioritize its objectives and evaluate its performance.
Answer:
D. Neither country could gain from trade with each other because neither one has a comparative advantage
Explanation:
Opportunity cost refers to the units sacrificed from production of one good to produce an extra unit of another good.
In the given case, the number of workers are same.
The opportunity cost for producing corn instead of oats by Cornland would be : 10/40 units of oats = 0.4 units of oats
Similarly, the opportunity cost for producing corn by Oatland = 5/ 20 = 0.4 units of oats
Similarly, the opportunity cost for producing oats by Cornland = 4 units of corn
Opportunity cost for producing oats by Oatland = 4 units of corn.
As can be seen, none of the two i.e Cornland or Oatland enjoys a comparative advantage over other since for both, the opportunity cost is the same.
Hence, neither country would gain out of trade.
