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Author Question: What is comparative advantage? What is absolute advantage? What will be an ideal ... (Read 116 times)

altibaby

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on: Jun 29, 2018
What is comparative advantage? What is absolute advantage?
 
  What will be an ideal response?

Question 2

Some economists and policymakers who are in favor of government-provided health care believe that providing health care will generate
 
  A) more adverse selection. B) additional moral hazard.
  C) positive externalities. D) greater asymmetric information.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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djofnc

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

Comparative advantage is the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors. Absolute advantage is the ability of an individual, firm, or country to produce more of a good or service than competitors, using the same amount of resources.

Answer to Question 2

C


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