This topic contains a solution. Click here to go to the answer

Author Question: Crtically evaluat the following statement. It is possible to calculate comparative advantage even ... (Read 45 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
Crtically evaluat the following statement. It is possible to calculate comparative advantage even when prices are not known.
 
  What will be an ideal response?

Question 2

When total utility is at its maximum what must be the value of marginal utility?
 
  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

dpost18

  • Sr. Member
  • ****
  • Posts: 345
Answer to Question 1

This statement is true. Opportunity cost is all that is required. And of course opportunity cost simply refers to what is given up in order to produce something. The item given up doesn't have to have a monetary price tag in order for opportunity cost to be calculated.

Answer to Question 2

Total utility is maximized when marginal utility is zero.




ss2343

  • Member
  • Posts: 548
Reply 2 on: Jun 29, 2018
Wow, this really help


ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

For a complete list of videos, visit our video library