Suppose That a Worker in Country a Can Make Either

question 19

Multiple Choice

Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year.Country A has 200 workers.Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year.Country B has 400 workers.Suppose Country A specializes in bananas,and Country B specializes in tomatoes.The limits to the terms of trade that Country A would find acceptable are:

• A)Country A will give no more than 5 bananas for each tomato.
• B)Country A will give no less than 5 bananas for each tomato.
• C)Country A will give no more than 1 tomato for every 5 bananas.
• D)Country A will give no less than 1 tomato for every 5 bananas.

Recognize legal protections available for innovations and understand their implications for R&D, imitation, and market competition.

Evaluate the economic and efficiency impact of production process changes within a firm.

Examine the strategies firms adopt in response to R&D challenges and competitive pressures.

Understand the concept and strategic implications of "fast-second strategy" in competitive markets.

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Definitions:

On-The-Job Training

This is a form of education where employees learn and acquire skills while working at their job positions.

Discrimination Coefficient

A statistical measure in economics or social science indicating the degree to which a variable, such as price or income, discriminates or differentiates between individuals or groups.

Wage Differential

Wage differential refers to the variation in wages between individuals, occupations, locations, or sectors due to factors like skill level, demand, or cost of living.