Suppose that in slovakia one unit of labor can produce either 16 tons of wheat or 32 tons of soy and in poland one unit of labor can produce either 4 tons of wheat or 2 tons of soy. who has a comparative advantage in producing wheat?

How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )

Explain how can you avoid conflict by adjusting

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.