The ________ Theory States That a Country's Export Eventually Becomes

question 6

Multiple Choice

The ________ theory states that a country's export eventually becomes its import.

• A) competitive advantage
• B) factor proportions
• C) international product life cycle
• D) new trade

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Definitions:

AVC

Average Variable Cost; the total variable cost divided by the quantity of output produced.

MC

MC often stands for Marginal Cost, which is the cost of producing one additional unit of a good.

ATC

Average Total Cost; the total cost of production divided by the quantity of output produced.

AVC

Average Variable Cost, which is the total variable cost divided by the quantity of output produced. It represents the variable cost per unit of output.