This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The law of comparative advantage says that a. the individual with the lowest opportunity cost of ... (Read 46 times)

crazycityslicker

  • Hero Member
  • *****
  • Posts: 537
on: Jul 1, 2018
The law of comparative advantage says that
 a. the individual with the lowest opportunity cost of producing a particular good should produce it
  b. comparative advantage exists only when one person has an absolute advantage in the production of two goods
  c. whoever has a comparative advantage in producing a good also has an absolute advantage in producing that good
  d. whoever has an absolute advantage in producing a good also has a comparative advantage in producing that good
  e. gains from trade are possible only when one person has the comparative advantage in producing both goods

Question 2

The law of comparative advantage says that a person should produce a good if she
 a. has the greatest desire to consume that good
  b. has the lowest opportunity cost of producing that good
  c. has an absolute advantage in a related activity
  d. has a comparative advantage in a related activity
  e. is equally good at producing this good as someone else is


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

laurnthompson

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


crazycityslicker

  • Member
  • Posts: 537
Reply 2 on: Jul 1, 2018
:D TYSM

blakcmamba

  • Member
  • Posts: 335
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

An individual affected by xeroderma pigmentosum An individual affected by xeroderma pigmentosum
Comparative illustration of a leopard (left) and cheetah (right) Comparative illustration of a leopard (left) and cheetah (right)
As a result of sharing its environment with humans, this macaque had the opportunity to steal an ast As a result of sharing its environment with humans, this macaque had the opportunity to steal an ast
A biological profile from the bony remains of an individual may be preferable to a DNA profile for a A biological profile from the bony remains of an individual may be preferable to a DNA profile for a
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
Comparative Morphology Comparative Morphology
Video: Replication of DNA and Chromosomes/ How do cells replicate their DNA? (Animation) no Audio

For a complete list of videos, visit our video library