As long as two people have different opportunity costs, each can gain from trade by being able to obtain a good at a price lower than his or her opportunity cost.
举一反三
- Individuals Lin<br/>and Li<br/>both produce good X. Lin has a<br/>comparative advantage in the production of good X if Lin ( ) A: has a lower opportunity cost of producing good X than<br/>has Li. B: has a lower opportunity cost of producing good X than<br/>of producing good C: can produce more units of X in a given time period<br/>than can Li. D: can produce X using newer technology than can Li.
- A country has a__________ in producing a good if the opportunity cost of producing that good in terms of other goods is lower in that country than it is in other countries.
- 中国大学MOOC: Suppose Jim and Tom can both produce baseball bats. If Jim’s opportunity cost of producing baseball bats is lower than Tom’s opportunity cost of producing baseball bats, then
- The correct statement about the bidding quotation is (). A: The bid price shall be lower than the market value of cost price, and lower than the social average cost price. B: The quotation can not be lower than the cost, but can be higher than the maximum bid price. C: If the quotation is lower than the cost, the bid evaluation committee shall reject the bid. D: The quotation can be lower than the cost, but not higher than the maximum bid price.
- Opportunity cost of an action is A: the best choice that can be made. B: the money cost. C: the absolute cost. D: the comparative cost. E: the highest-valued alternative forgone.