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Author Question: The law of comparative advantage says that a. the individual with the lowest opportunity cost of ... (Read 66 times)

crazycityslicker

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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


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laurnthompson

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


crazycityslicker

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  • Posts: 537
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

Dnite

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Reply 3 on: Yesterday
Gracias!

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