A multiplechoice question with one possible answer. Regarding community indifference curves, which is true among the followings? 1. 0 They can't represent an average individual's indifference curves. 2. 0 They cross. so they cannot be used in the analysis. 3. 0 They are concave to the origin. 4. 0 They denote a representative individual's tastes. 5. 0 They are entirely unrelated to individual's community indifference curves. A multiplechoice question with one possible answer. Which of the following statements is false\"? 1. C) Gains from trade occurs only when scale economies exist at the rm level. 2. C) Gains from specialization result even without exchange 3. O Gains from trade can be broken down into gains from exchange and gains from specialization 4. 0 None of the others 5. 0 Gains from trade result even without specialization A multiplechoice question with one possible answer. l'vlutually benecial trade cannot occur when production possibility frontiers are: 1. C) the same but tastes are not 2. 0 different and tastes are also different 3. 0 different but tastes are equal 4. 0 equal and tastes are also equal A multiplechoice question with one possible answer. When there is an increase in a nation's terms of trade in a twonation world, what happens to the terms of trade of its trade partner. 1. 0 can't be determined 2. 0 improves 3. 0 remains the same 4. 0 deteriorates A multiplechoice question with one possible answer. If national tastes for its import commodity decreases: 1. 0 the partner's terms of trade deteriorates. 2. C) the nation's terms of trade remain unchanged. 3. C) the partner's terms of trade improves. 4. O the nation's terms of trade deteriorates