Gains from Exchange, Can someone help me in finding out the right answer from the given

Gains from Exchange

Can someone help me in finding out the right answer from the given options. Persons or nations that can outperform their competitors in all tasks enjoy: (1) Absolute benefits in all outputs. (2) Relative benefits in all outputs. (3) Comparative benefits in all outputs. (4) Normative benefits in all outputs. (5) Positive benefits in all outputs.

View Complete Question

Related Questions in Managerial Economics

Q : Illustrates the economies of scale are

Illustrates the economies of scale are categorization?

Q : States the Extension and Contraction of

States the Extension and Contraction of Demand.

Q : Illustrates the demand schedules

Illustrates the demand schedules important for law of demand? Answer: The perception of law of demand may be explained along with the demand schedules are as follow:

Q : Marginal Productivity Theory The

The economic theorist most famed for developing marginal productivity theory was: (1) Thorstein Veblen. (2) Karl Marx. (3) Alfred Marshall. (4) John Bates Clark. (5) Vilfredo Pareto. Can someone ex

Q : Explain opinion of Stonier and Hague

Illustrates the opinion of Stonier and Hague for explaining Demand in economics?

Q : Wage rates throughout supply of labor

For wage rates in between $18 and $21, there the elasticity of Morgan’s supply of labor is: (w) 0.72. (x) one. (y) 1.08. (z) 1.44.

Q : Screening and Credentialism Critics of

Critics of “credentialism” believe which firms making employment decisions tend to rely much heavily on: (1) personal contacts. (2) past experience. (3) personality testing. (4) job interviews. (5) formal training and education.

Q : Competitive Labor Markets Need

Competitive equilibria in competitive labor markets need: (w) P = MR = AVC. (x) VMP - P is maximized. (y) VMP = MRP = MFC = w. (z) output is at a break-even level. (q) MPP = P. Can anybody suggest me the proper exp

Q : Price exceeds marginal cost in

When, for a perfectly competitive firm that price exceeds the marginal cost of production then the firm must: w) raise its output. x) reduce its output. Y) keep output constant and enjoy the above normal profit. z) lower the price.

Q : Purely competitive equilibrium labor

When this purely competitive labor market is firstly in equilibrium at D0L, S0L, an increase within the price of output will result into equilibrium being attained at: (w) D0L, S0L. (x) D1L, S1L. (y) D2L, S1L. (z) D1L, S0L.

Discover Q & A

Leading Solution Library

Avail More Than 1417151 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1926376
Asked

3,689

Active Tutors

1417151

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment