Suppose that the opportunity-cost ratio for watches and cheese is 1c ≡ 1w in switzerland but 1c ≡ 4w in japan. at which of the following international exchange ratios (terms of trade) will switzerland and japan be willing to specialize and engage in trade with each other?

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.