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3. Why do similar high-income economies engage in intra-industry trade? 

a. The division of labor leads to learning, innovation, and unique skills

b. Economies of scale.

c. Both a and b

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Understanding the reason behind Intra-industry Trade between Similar Economies
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Raushan Raj
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2 Nov 2020

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Related questions

10. ____________________ provides a way to combine the lower average production costs that come from economies of scale and still have competition and variety for consumers.

a. Intra-industry trade

b. International trade

c. Inter-industry trade

13. In intra-industry trade, the level of worker productivity is not determined by climate or geography. It is not even determined by the general level of education or skill. Instead, the level of worker productivity is determined by how firms engage in specific learning about specialized products, including taking advantage of economies of scale. In this vision, comparative advantage can be dynamic. 

True or False.

a. True

b. False

When_____ exist, the doubling of all inputs will result in more than doubling output, which means _________.

A- economies of scale; a smaller factory can produce at a lower average cost than a larger company.

B- economies of scale; a larger factory can produce at a lower average cost than a smaller company

C- labor inputs; economies-of-scale curve U-shpaed

D- lower labor inputs; the larger scale of production leads to higher costs

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