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 47 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
:D TYSM

daiying98

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

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

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

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?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Comparative illustration of a leopard (left) and cheetah (right) Comparative illustration of a leopard (left) and cheetah (right)
Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra
How the Wernicke-Geschwind model works in a person who is responding to a heard question and reading ... How the Wernicke-Geschwind model works in a person who is responding to a heard question and reading ...
Instruct recipient on giving you feedback immediately if heat becomes too intense. Remind the person ... Instruct recipient on giving you feedback immediately if heat becomes too intense. Remind the person ...
Comparative substrate cycles in glycolysis/gluconeogenesis Comparative substrate cycles in glycolysis/gluconeogenesis
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: Glycolysis - and oxygen

For a complete list of videos, visit our video library