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

Author Question: What gives a person a comparative advantage? What will be an ideal ... (Read 15 times)

pragya sharda

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
What gives a person a comparative advantage?
 
  What will be an ideal response?

Question 2

Sketch a PPF for video entertainment and other goods and services before broadband.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

miss.ashley

  • Sr. Member
  • ****
  • Posts: 371
Reply #1 on: Jun 29, 2018
Answer to Question 1

A person has a comparative advantage in an activity if that person can perform the activity at a lower opportunity cost than anyone else, If the person gives up the least amount of other goods and services to produce a particular good or service, the person has the lowest opportunity cost of producing that good or service.

Answer to Question 2

As illustrated in Figure 3.5 by the production possibilities frontier labeled Initial PPF, the PPF has video entertainment on one axis and other goods and services on the other. The PPF is bowed outward as a conventional PPF.


pragya sharda

  • Member
  • Posts: 566
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

carlsona147

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Comparative features of blood vessels. Comparative features of blood vessels.
James Madison was a key figure at the Constitutional Convention of 1787 in Philadelphia. He not only James Madison was a key figure at the Constitutional Convention of 1787 in Philadelphia. He not only
A person with a defective "P" gene might only have it effect the EYES A person with a defective "P" gene might only have it effect the EYES
A well-folded letter fits easily into the envelope and is easily removed by the person who receives ... A well-folded letter fits easily into the envelope and is easily removed by the person who receives ...
Cultures Ideal Body Types Cultures Ideal Body Types
Food security per person Food security per person
Video: Introduction to Genetics

For a complete list of videos, visit our video library