IndividualOpportunity CostPramilla2 units of good X to produce 1 unit of good YSam3 units of good X to produce 1 unit of good YGeorge4 units of good Y to produce 1 unit of good XLucas5 units of good Y to produce 1 unit of good XConsider the opportunity costs of producing goods X and Y that are listed for the four individuals above. Which person has a comparative advantage in producing good Y?

A. Pramilla
B. George
C. Lucas
D. Sam


Answer: C

Economics

You might also like to view...

The interest rate banks charge other banks for overnight loans is

A) the federal funds rate. B) targeted by the FDIC. C) higher than interest rates for securities and loans. D) lower than interest rates for loans, but higher than interest rates for securities.

Economics

What has happened to the free trade agenda in the last few years, and in particular to the fate of the Doha Round of trade negotiations?

What will be an ideal response?

Economics

Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus earned by the buyer of the 1st unit is ________

A) $5.00 B) $15.00 C) $22.50 D) $40.00

Economics

The use of large amounts of labor relative to capital in an economy indicates: a. labor-intensive production

b. capital-intensive production. c. that wage rates will be relatively high. d. that hand-made goods are of better quality than machine-made goods.

Economics