« previous next »

Author Question: What is comparative advantage? What is absolute advantage? What will be an ideal ... (Read 90 times)

altibaby

  • Hero Member
  • *****
  • Posts: 562
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
Buy Test-Bank


djofnc

  • Sr. Member
  • ****
  • Posts: 318
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Steric relationship of the stereoisomers of alanine to the absolute configuration of L Steric relationship of the stereoisomers of alanine to the absolute configuration of L
Like most world-changing inventions, the printing press of fifteenth-century Europe took advantage o Like most world-changing inventions, the printing press of fifteenth-century Europe took advantage o
Absolute Thresholds Absolute Thresholds
How to use the closed interval method to find absolute maximum and minimum values How to use the closed interval method to find absolute maximum and minimum values
How to solve equations involving absolute values How to solve equations involving absolute values
Controlling access to water in order to gain political and strategic advantage in Gaza Controlling access to water in order to gain political and strategic advantage in Gaza
Video: Metabolic Rate, Heat and Thermoregulation - response to heat and cold stresses

For a complete list of videos, visit our video library