Given the Information in the Table Above, If the World

question 12

Multiple Choice

Given the information in the table above, if the world equilibrium price of widgets were 40 cloths, then

• A) both countries could benefit from trade with each other.
• B) neither country could benefit from trade with each other.
• C) each country will want to export the good in which it enjoys comparative advantage.
• D) neither country will want to export the good in which it enjoys comparative advantage.
• E) both countries will want to specialize in cloth.

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Definitions:

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Providing false or misleading information intentionally or unintentionally.

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The action or business of promoting and selling products or services, including market research and advertising design, through various media channels.

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A term often used to describe strong criticism or opposition, typically in a public or media context.

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Professionals who collect, write, or distribute news and other current information to the public through various media platforms.