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Author Question: James has a comparative advantage in the production of corn, while Harry has a comparative advantage ... (Read 76 times)

jhjkgdfhk

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on: Jun 30, 2018
James has a comparative advantage in the production of corn, while Harry has a comparative advantage in the production of bread. If James and Harry decide to trade with each other, _____.
 a. both Harry and James will enjoy gains from trade
  b. only Harry will enjoy gains from trade
  c. only Harry will suffer losses from trade
  d. only James will suffer loses from trade
 e. neither of them will gain from trade

Question 2

Resources are used more efficiently if people, regions, and countries specialize in goods for which they have a(n):
 a. disincentive to trade with others.
 b. higher opportunity cost.
 c. absolute advantage in production.
 d. comparative advantage in production.


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raili21

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


jhjkgdfhk

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

cassie_ragen

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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