Author Question: In the market for insurance, A) buyers often have more information than sellers. B) sellers are ... (Read 173 times)

EAugust · **on:** Jun 29, 2018

In the market for insurance,

A) buyers often have more information than sellers.
B) sellers are protected from lawsuits brought by buyers.
C) demand is perfectly inelastic because, by law, home owners and automobile drivers must have insurance.
D) sellers often have better information than buyers.

Question 2

What does it mean for a country to have a comparative advantage in producing a product?

What will be an ideal response?

izzat · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

A

Answer to Question 2

A country has a comparative advantage in producing a product when it has the ability to produce that product at a lower opportunity cost than competitors.