Big Lobster Sells lobster and fish, and so too does H salt. If H Dalt\'s opportu

Question

Big Lobster Sells lobster and fish, and so too does H salt.

If H Dalt's opportunity cost of preparing lobster exceeds Big Lobsters opportunity cost of preparing lobster, then all the following are true except ______.

a. big lobster has a comparrative advantage in lobster

b. they will both gain if H salt sells fish and Big lobster sells lobster

c. H salt has a comparative advantage in lobster

d. big lobster does not have a comparative advantage in preparing fish.

If H salt and big lobster decide to specialize and trade, then the source of the gains from the trade between H salt and big lobster is ____.

a.the elimination of comparative advantage.

b.divergent opportunity cost

c.the elemination of absolute advantage

d.equal opportunity cost

Economics growth comes from ____.

a. people being willing to increase their skills which makes economic growth free

b. capital accumulation and technological advance

c. producing more goods than people want to consume

d. capital accumulation and the avoidance of opportunity cost

Explanation / Answer

1.a

sory couldntfind the rest

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.