A Product Is Produced in a Monopolistically Competitive Industry with Scale

question 15

Multiple Choice

A product is produced in a monopolistically competitive industry with scale economies.If this industry exists in two countries,and these two countries engage in trade with each other,then we would expect

• A) each country will export different varieties of the product to the other.
• B) the country in which the price of the product is lower will export the product.
• C) the country with a relative abundance of the factor of production in which production of the product is intensive will export this product.
• D) neither country will export this product since there is no comparative advantage.
• E) the countries will trade only with other nations they are not in competition with.

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Definitions:

Job Design

Describes the process of assigning duties, responsibilities, and tasks to a job or position to optimize employee performance and satisfaction.

Job Context

The work environment and conditions under which a job is performed, including physical surroundings, job roles, organizational culture, and external influences.

Psychological Contract

The set of individual expectations about the employment relationship.

Additional Authority

Additional power or authorization granted to an individual or organization to make decisions or take action.