Can you please answer question 47, please? No explanation needed. Thanks in advance. 47) Which of the following is NOT a valid argument for protection? A) To keep declining industries going in the long run in order to safeguard jobsB) To prevent dumping by other countries from giving them an unfair advantage over domestic suppliersC) To allow infant industries to survive foreign competitionD) To allow older industries with a potential comparative advantage a chance to make significant investments

International trade refers to the exchange of goods and services between countries. It allows the…

Answered: 47) Which of the following is NOT a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Can you please answer question 47, please? No explanation needed. Thanks in advance.

47) Which of the following is NOT a valid argument for protection?

A) To keep declining industries going in the long run in order to safeguard jobs
B) To prevent dumping by other countries from giving them an unfair advantage over domestic suppliers
C) To allow infant industries to survive foreign competition
D) To allow older industries with a potential comparative advantage a chance to make significant investments

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

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