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Author Question: Specialization and trade do not allow individuals, firms, or even nations to acquire goods that lie ... (Read 86 times)

jazziefee

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on: Jun 30, 2018
Specialization and trade do not allow individuals, firms, or even nations to acquire goods that lie beyond their production capabilities.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If race-car driving is dangerous, why would any rational person choose to be a race-car driver?


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DHRUVSHAH

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Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

A rational person might choose to drive race cars if, after assessing the potential dangers, he or she believes the expected marginal benefit from racing outweighs the expected marginal cost.


jazziefee

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

tandmlomax84

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Reply 3 on: Yesterday
Excellent

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