Question : 11) Two countries engaged in trade in products with no : 1303523

 

 

11) Two countries engaged in trade in products with no scale economies, produced under conditions of perfect competition, are likely to be engaged in

A) inter-industry trade.

B) monopolistic competition.

C) intra-industry trade.

D) Heckscher-Ohlin trade.

E) oligopolistic competition

 

 

12) Two countries engaged in trade in products with scale economies, produced under conditions of monopolistic competition, are likely to be engaged in

A) intra-industry trade.

B) price competition.

C) inter-industry trade.

D) Heckscher-Ohlinean trade.

E) immiserizing trade.

 

 

13) We often observe “pseudo-intra-industry trade” between the United States and Mexico. Actually, such trade is consistent with

A) comparative advantage associated with Heckscher-Ohlin model.

B) oligopolistic markets.

C) optimal tariff issues.

D) the Ricardian model of trade.

E) the specific factors model of trade.

 

14) Intra-industry trade will tend to dominate trade flows when which of the following exists?

A) small differences between relative country factor availabilities

B) large differences between relative country factor availabilities

C) homogeneous products that cannot be differentiated

D) constant cost industries

E) uneven distribution of abundant resources between two countries

 

 

15) Trade without serious income distribution effects is most likely to happen

A) in sophisticated manufactures trade between rich countries.

B) in simple manufactures trade between developing countries.

C) in sophisticated manufactures trade between rich and poor countries.

D) in agricultural trade between rich countries.

E) in labor-intensive industries like clothing.

 

 

16) Imagine scale economies were not only external to firms, but were also external to individual countries. That is, the larger the worldwide industry (regardless of where firms or plants are located), the cheaper would be the per-unit cost of production. Describe what world trade would look like in this case.

 

 

 

 

17) Refer to above figure. The monopolist can export as much as it likes of its steel at the world price of $5/ton. How much steel will the monopolist sell, and at what price?

 

18) Refer to above figure. Given the opportunity to sell at world prices, the marginal (opportunity) cost of selling a ton domestically is what?

 

 

19) Refer to above figure. While selling exports it would also maximize its domestic sales by equating its marginal (opportunity) cost to its marginal revenue of $5. How much steel would the firm sell domestically, and at what price?

 

 

20) If the market for products produced by firms in a monopolistically competitive industry becomes ________, then there will be ________ firms and each firm will produce ________ output and charge a ________ price.

A) smaller; fewer; less; higher

B) smaller; more; less; higher

C) smaller; more; less; lower

D) smaller; fewer; less; lower

E) smaller; fewer; more; higher

 

 

21) In an industry where firms experience internal scale economies, the long-run cost of production will depend on

A) the size of the market.

B) the size of the labor force.

C) whether the country engages in intra-industry trade.

D) individual firms’ fixed costs.

E) whether the country engages in inter-industry trade.

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more