The principle of comparative advantage: a. applies only when the gold standard is in effect.
b. is the basic reason that the U. S. has been running trade deficits.
c. states that it is advantageous to export more than you import.
d. states that total output is greatest when each product is made by the country that has the lowest opportunity cost.

Henry crouch's law office has traditionally ordered ink refills 55 units at a time. the firm estimates that carrying cost is 35% of the $11 unit cost and that annual demand is about 240 units per year. the assumptions of the basic eoq model are thought to apply. for what value of ordering cost would its action be optimal? a) for what value of ordering cost would its action be optimal?