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Author Question: Because of the existence of comparative advantage, the total output of goods is higher when each ... (Read 66 times)

wrbasek0

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on: Jun 29, 2018
Because of the existence of comparative advantage, the total output of goods is higher when each producer
 
  A) produces many different goods.
  B) produces at the midpoint of its PPF.
  C) specializes in the production of one good or a few goods.
  D) makes both intermediate and final goods.

Question 2

Wendy has to decide between taking a flight and driving to California. Air tickets cost 800 and will get her to California in 2 hours. If she decides to drive, she would need 300 worth of gasoline and 10 hours to reach her destination.
 
  Suppose that Wendy's opportunity cost of time is 20 per hour. Assuming that there are no other costs involved, use cost-benefit analysis to decide whether she should fly or drive to California. If Wendy has an important business meeting to attend and this increases her opportunity cost of time to 200 per hour, will her optimum decision change? Explain.
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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sabina576

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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wrbasek0

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Reply 2 on: Jun 29, 2018
:D TYSM

amandalm

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Reply 3 on: Yesterday
Excellent

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