This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If Country A has a comparative advantage in the production of good X relative to Country B, (Read 57 times)

Bobvance

  • Full Member
  • ***
  • Posts: 154
on: Oct 12, 2022

Question 1

The concept of comparative advantage in international trade is based on ________ as opposed to absolute costs.
◦ total cost
◦ average cost
◦ opportunity costs
◦ relative prices
◦ absolute prices

Question 2

If Country A has a comparative advantage in the production of good X relative to Country B,
◦ then Country A also has an absolute advantage in the production of some good other than X.
◦ then the opportunity cost of producing X in Country A is lower than in Country B.
◦ then the opportunity cost of producing X in Country A is higher than in Country B.
◦ then Country A also has an absolute advantage in the production of this good.
◦ We do not have enough information to say anything about relative opportunity costs.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Bobvance on Oct 12, 2022

Sophia0717

  • Full Member
  • ***
  • Posts: 162
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


Bobvance

  • Member
  • Posts: 154
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Relative sizes of the sporophyte and gametophyte generations of bryophytes, ferns, and seed plants. Relative sizes of the sporophyte and gametophyte generations of bryophytes, ferns, and seed plants.
Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
The relative influence of heredity and the environment in human behavior has fascinated and plagued ... The relative influence of heredity and the environment in human behavior has fascinated and plagued ...
An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
ATP Production in Cardiac Muscle ATP Production in Cardiac Muscle
A diver shines light up to the surface of a flat glass-bottomed boat at an angle of 30 relative ... A diver shines light up to the surface of a flat glass-bottomed boat at an angle of 30 relative ...
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library