QUESTION 9If Pedro can produce more bread in one day than Roger can produce in one day, thenа.Pedro has a comparative advantage in the production of bread.b.Roger has a comparative advantage in the production of bread.C.Pedro has an absolute advantage in the production of bread.d.Roger has an absolute advantage in the production of bread.ad.QUESTION 10the equilibrium price decreases, and the equilibrium quantity increasesthe equilibrium price increases, and the effect of quantity is ambiguousthe equilibrium price increases, and the equilibrium quantity increasesthe equilibrium price decreases, and the equilibrium quantity decreasesIf the demand of soccer balls increases, thena.b.C.d.O aO bO O O O

1)Pedro can produce more in one day than Roger,Therefore Pedro has comparative advantage in the…

QUESTION 9 If Pedro can produce more bread in one day than Roger can produce in one day, then a. Pedro has a comparative advantage in the production of bread. Roger has a comparative advantage in the production of bread. b. С. Pedro has an absolute advantage in the production of bread. d. Roger has an absolute advantage in the production of bread. d QUESTION 10 the equilibrium price decreases, and the equilibrium quantity increases the equilibrium price increases, and the effect of quantity is ambiguous the equilibrium price increases, and the equilibrium quantity increases the equilibrium price decreases, and the equilibrium quantity decreases If the demand of soccer balls increases, then a. b. с. d. O O O

QUESTION 9 If Pedro can produce more bread in one day than Roger can produce in one day, then a. Pedro has a comparative advantage in the production of bread. Roger has a comparative advantage in the production of bread. b. С. Pedro has an absolute advantage in the production of bread. d. Roger has an absolute advantage in the production of bread. d QUESTION 10 the equilibrium price decreases, and the equilibrium quantity increases the equilibrium price increases, and the effect of quantity is ambiguous the equilibrium price increases, and the equilibrium quantity increases the equilibrium price decreases, and the equilibrium quantity decreases If the demand of soccer balls increases, then a. b. с. d. O O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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