Author Question: Pursuing comparative advantage means A) adding up the plusses and minuses after a transaction. ... (Read 123 times)

Chelseaamend · **on:** Jun 29, 2018

Pursuing comparative advantage means

A) adding up the plusses and minuses after a transaction.
B) doing it to the other person first.
C) making equal, fair exchanges for equally valued goods or services.
D) sacrificing something less valuable for the sake of something more valuable.
E) seeking relative status rather than absolute welfare.

Question 2

Refer to the figure above. What is the market-wide consumer surplus when the market price of wine is 18?

A) 36,000
B) 3,000
C) 45,000
D) 210,000