A person who has an absolute advantage in the production of all goods will
A) have a production possibilities frontier with a constant slope.
B) have a comparative advantage in the production of some goods but not in the production of others.
C) also have a comparative advantage in the production of all goods.
D) not be able to gain from specialisation and exchange.
Correct Answer:
Verified
Q2: Q3: When the production possibilities frontier is bowed Q4: The principle of decreasing marginal benefit implies Q5: Moving from one point on the production Q6: One of the opportunity costs of economic Q7: Scarcity is represented on a production possibilities Q9: Q10: Markets Q149: A marginal cost curve Q213: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)allow traders to enjoy gains from trade.
B)coordinate
A) is upward sloping.
B)
