A World Trade Organization publication calls comparative advantage "arguably the single most powerful insight in economics." Source: World Trade Organization, "Understanding the WTO," www. wto. orglenglish/thewto_e/whatis_e/tif_e /fact3_e. htm The ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors is known as Referring to your answer above, what makes it such a powerful insight? A. t explains why larger firms and countries economically dominate smaller firms and countries. B. It is the basis for establishing an economic advantage over competing firms and countries C. It explains why if countries specialize and trade they will be better off D. It explains why if individuals, firms, and countries specialize and trade they will be better off

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.