Benefit from specialization and trade by obtaining good

Assignment Help Business Economics

Reference no: EM131202043

A person can benefit from specialization and trade by obtaining a good at a price that is

A. higher than his or her opportunity cost of that good.

B. different than his or her opportunity cost of that good.

C. the same as his or her opportunity cost of that good.

D. lower than his or her opportunity cost of that good.

Reference no: EM131202043

Questions Cloud

Has grocery store-through its employees-committed a tort : Sara Shopper was buying groceries at Tim's Top-notch Grocery Store. The stock boys were stocking the shelves when they dropped a bottle of catsup. It reminded her of a pool of blood. Being a person who could not stand the sight of blood, she fainted ..

Show the amount the united states will export and import : Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and..

Bit short in global better life index : After reading the article U.S.A comes up a bit short in global Better Life Index and comparing the relative ranking of U.S. GDP to other countries, what is the link between wealth and well-being? Do governments have a responsibility to address well-b..

Economic growth and productivity align with our core values : Applying Saint Leo’s Core Values to your analysis, describe what GDP measures and some of the limitations of GDP. What is the relationship between economic well-being and social well-being (i.e. happiness)? Can economic growth and productivity align ..

Benefit from specialization and trade by obtaining good : A person can benefit from specialization and trade by obtaining a good at a price that is

Regarding application of the concept of unconscionability : Which of the following is true regarding the application of the concept of unconscionability?

Draw the world price line : Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. Draw the PPF for the United States. ..

There exist games with multiple nash equilibria : There exist games with multiple Nash equilibria. All Nash equilibria are based on dominant strategies. No player wants to deviate from a Nash equilibrium. A Nash equilibrium is a mutual best response

For electricity and for fuel and lubricants for cars : We study Economics because we live on a planet that does not provide us with enough resources to give everyone everything that they want. One of the power resources that is scarce is OIL that we use for home heating, for electricity (to burn and crea..

User Account

All Pages