Author Question: According to the Law of Comparative Advantage, A) production should be based on who can produce a ... (Read 114 times)

fox · **on:** Jun 29, 2018

According to the Law of Comparative Advantage,

A) production should be based on who can produce a product lowest opportunity cost.
B) production should be based on who can produce more of a good.
C) production should take into account strategic interests, such as national security.
D) production should be for the people instead of for profit.

Question 2

Does an increase in the demand for Introductory Economics increase the cost to students of taking the course?

A) No, because tuition rates are not set to clear the market.
B) Not if the college refuses to hire additional people to teach the course.
C) Yes, if the course is consequently taught in a larger room, which costs more to heat.
D) Yes, insofar as students have to accept less satisfactory class schedules in order to take the course.