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Author Question: If Country A has a comparative advantage in the production of good X relative to Country B, (Read 56 times)

Bobvance

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on: Oct 12, 2022

Question 1

The concept of comparative advantage in international trade is based on ________ as opposed to absolute costs.
◦ total cost
◦ average cost
◦ opportunity costs
◦ relative prices
◦ absolute prices

Question 2

If Country A has a comparative advantage in the production of good X relative to Country B,
◦ then Country A also has an absolute advantage in the production of some good other than X.
◦ then the opportunity cost of producing X in Country A is lower than in Country B.
◦ then the opportunity cost of producing X in Country A is higher than in Country B.
◦ then Country A also has an absolute advantage in the production of this good.
◦ We do not have enough information to say anything about relative opportunity costs.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Bobvance on Oct 12, 2022

Sophia0717

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Reply #1 on: Oct 12, 2022
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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Bobvance

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

ryansturges

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Reply 3 on: Yesterday
Wow, this really help

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