Multiple Choice
Which of the following is not true for a nation that is in equilibrium in isolation?
A) It consumes inside its production frontier
B) it reaches the highest indifference curve possible with its production frontier
C) the indifference curve is tangent to the nation's production frontier
D) MRT of X for Y equals MRS of X for Y,and they are equal to Px/Py
Correct Answer:
Verified
Correct Answer:
Verified
Q5: Which of the following statements about community
Q6: The marginal rate of substitution (MRS)of X
Q7: With free trade under increasing costs:<br>A)neither nation
Q8: The gains from exchange with respect to
Q9: A production frontier that is concave from
Q10: Which of the following is not a
Q11: If Px/Py exceeds the equilibrium relative Px/Py
Q12: Which of the following statements is false?<br>A)The
Q13: Which of the following statements is true
Q15: Nation 1's share of the gains from