Multiple Choice
External economies refer to:
A) cost advantages arising from locating a firm near important resources, such as skilled workers, capital resources, or required raw materials.
B) cost advantages arising from specializing in producing and trading items in which a nation has a comparative advantage.
C) cost advantages arising from specializing in producing and trading items in which a nation has an absolute advantage.
D) cost advantages arising from expanding production via trade to reach a firm-s minimum efficient scale.
Correct Answer:
Verified
Correct Answer:
Verified
Q14: An industry structure in which only a
Q15: Factors that prevent entrepreneurs from immediately creating
Q16: Under international law, dumping is permitted if
Q17: A government licensing requirement is an example
Q18: "Gravity" models of international trade emphasize the
Q19: If trading costs over the physical distance
Q20: Long-run average cost is defined as the
Q22: In principle, a tendency for firms to
Q23: The establishment of a foreign subsidiary of
Q24: In a monopolistically competitive industry spanning more