Which company has the comparative advantage in producing small tubes of toothpaste? Bright White – because it has the bigger difference than Fresh!
Which most likely results from producers engaging in Specialization quizlet?
Terms in this set (10)
Which most likely results from producers engaging in specialization? Producers reduce their costs .
Which best describes how consumers may benefit from Specialization ?’?
Countries become better at making the product they specialize in. Consumer benefits: Specialization means that the opportunity cost of production is lower, which means that globally more goods are produced and prices are lower. Consumers benefit from these lower prices and greater quantity of goods .
What best describes how producers benefit from Specialization?
Which best describes how producers benefit from specialization? Producers can increase their profits .
Which describes a way in which consumers most likely benefit from Producer’s absolute advantage?
Consumer’s most likely benefit from producers’ absolute advantage is when prices decrease as a result of increased production efficiencies .
Which company has the comparative advantage in producing small tubes of?
Which company has the comparative advantage in producing small tubes of toothpaste? Bright White – because it has the bigger difference than Fresh!
Which statement best explains the role of producers in economics quizlet?
Which statement best explains the role of producers in economics? Producers supply goods and services .
Which best describes a reason that consumer demand can change?
Which best describes a reason that consumer demand can change? ... It helps consumers tell producers when prices are too high .
Which company has the comparative advantage in producing small tubes of toothpaste Brainly?
Based from the table, it shows that the Bright White company has the comparative advantage in producing small tubes of toothpaste for it can make 250 small tubes of toothpaste per hour as compared to other toothpaste companies.
Which best explains why producers?
Answer: Knowing what consumers want helps producers make more money . Explanation: The statement that best explains why producers conduct market research would be that Knowing what consumers want helps producers make more money.
How do you determine absolute advantage for a country?
To calculate absolute advantage, look at the larger of the numbers for each product . One worker in Canada can produce more lumber (40 tons versus 30 tons), so Canada has the absolute advantage in lumber. One worker in Venezuela can produce 60 barrels of oil compared to a worker in Canada who can produce only 20.
Which best describes how specialized producers decrease their opportunity costs?
Which best describes how specialized producers decrease their opportunity costs? the amount the company receives from the sale of all of its computer parts . ... The marginal costs will continue to rise, increasing the total cost, while the marginal revenue remains the same, decreasing the profit.
What is the difference between absolute advantage and comparative advantage?
Absolute advantage refers to the ability to produce more or better goods and services than somebody else. Comparative advantage refers to the ability to produce goods and services at a lower opportunity cost , not necessarily at a greater volume or quality.
Which scenario is the best example for an opportunity cost?
The correct answer is a. A computer company produces fewer laptops to meet tablet demand . Opportunity cost defines the benefit obtained by having a commodity after forgoing some other commodity. In the problem statement, the computer company incurs an opportunity cost of laptops for tablets.
Which quality best describes a producer with an absolute advantage efficient fast accurate prolific?
This four qualities which are, efficient, fast, accurate, prolific are referring to one best quality which is for being very productive . Speaking of producer meaning is to produce plenty and it is 100% efficient, and it is an absolute advantage.
Will a country always be an exporter of a good in which it has an absolute advantage in production?
While ABSOLUTE advantage is the ability of an individual, a firm, or a country to produce more of a good or service than competitors when using the same amount of resources. A country will always be an exporter of a good where it has A COMPARATIVE advantage in production .
