2) Check all the true statements about comparative advantage, absolute advantage, and
the Theory of Comparative Advantage.

It is possible for someone to have an absolute advantage in everything.

It is possible for someone to have a comparative advantage in everything.

People should specialize
in producing what they have an absolute advantage for.

People should specialize in producing what they have a comparative advantage for.

Countries should export the things they have a comparative advantage in.

Countries should import
the things they have a comparative advantage in.

Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct. d.

Need true or false 1 2 3 4 5 6 7 8

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.