If a person gives a gift to another person, an economist would say that it is because
A) the marginal benefit of giving the gift is at least as great as the marginal cost of giving the gift.
B) the marginal cost of giving the gift is at least as great as the marginal benefit of giving the gift.
C) he expects to receive a gift in return.
D) none of the above
A
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If one producer has the absolute advantage in the production of all goods, then that same producer will have the comparative advantage in the production of all goods as well
a. True b. False Indicate whether the statement is true or false
Which of the following events would cause a movement downward and to the left along the supply curve for mangos?
a. The number of sellers of mangos decreases. b. There is an advance in technology that reduces the cost of producing mangos. c. The price of mangos falls. d. The price of fertilizer increases, and fertilizer is an input in the production of mangos.