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Author Question: Explain comparative advantage. What will be an ideal response?[br][br][b][color=#347235]Question ... (Read 32 times)

melina_rosy

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on: Jun 29, 2018
Explain comparative advantage.
 
  What will be an ideal response?

Question 2

If a decrease in income leads to an increase in the demand for macaroni, then macaroni is
 
  A) an inferior good. B) a necessity. C) a neutral good. D) a normal good.


vickyvicksss

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Comparative advantage is the advantage in the production of a product enjoyed by one country over another when that product can be produced at lower cost in terms of other goods foregone than it could be in the other country.

Answer to Question 2

A


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