Which of the following is correct a Abercrombie has a comparative advantage in

Which of the following is correct a abercrombie has a

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11. Which of the following is correct? a. Abercrombie has a comparative advantage in jeans and Fitch has a comparative advantage in t-shirts. b. Abercrombie has a comparative advantage in both goods and Fitch has a comparative advantage in neither good. c. Abercrombie has a comparative advantage in neither good and Fitch has a comparative advantage in both goods. d. Abercrombie has a comparative advantage in t-shirts and Fitch has a comparative advantage in jeans.
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EMILY VAN HOEVE ECON 1001 C 12. Suppose bad weather ruins the crop of wheat. What happens to the consumer surplus in the market for bread? 13. Netflix and movie tickets are substitutes. If the price of Netflix increases, what will happen in the market for movie tickets? 14. Suppose the market demand schedule for train tickets is QD = 100 – 2P and the market supply schedule is QS = 20 + 3P. Which of the following prices would constitute a binding price floor? 15. Which of the following best defines economics? a. How society manages its scarce resources b. How the government organizes its economy c. How to manage inflation, unemployment and stock prices d. How to run a business most profitably 16. What is an externality?
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EMILY VAN HOEVE ECON 1001 C 17. According to the graph above showing the market for cheese, which of the following is true? 18. Which of the following goods would have the most elastic demand?
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