The Table Below Shows the Quantity Demanded (In Thousands) and Quantity

question 79

Multiple Choice

The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5

-Firms in industrial countries find a larger market for their goods in other industrial countries than in developing countries because:

• A)the consumption patterns in the industrial countries are highly heterogeneous.
• B)the trade policies of the industrial nations are more favorable than the developing countries.
• C)the industrial countries tend to have a higher population than the developing countries.
• D)the industrial countries are capital intensive countries.
• E)the consumption patterns in the industrial countries are more or less uniform.

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Definitions:

Scrap Value

The estimated residual value of an asset at the end of its useful life.

Manufacture Further

The process of conducting additional production activities intended to enhance the value or functionality of a product.

Incremental Cost

The additional cost associated with producing one more unit of a product or service.

Manufacturing Overhead

All indirect costs associated with the production process, such as utilities, maintenance, and factory management salaries.