MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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... person has a comparative advantage in producing a good if that person can produce the good at a lower opportunity cost than anyone else . People can gain from trade if each specializes in the activity at which he or she has a ...
... person has a comparative advantage in producing a good if that person can produce the good at a lower opportunity cost than anyone else . People can gain from trade if each specializes in the activity at which he or she has a ...
˹éÒ 463
... person dis- likes risk - the more risk - averse the person is . You can see this fact best by considering an extreme case , that of risk neutrality . A risk - neutral person is one for whom risk is costless . Such a person cares only ...
... person dis- likes risk - the more risk - averse the person is . You can see this fact best by considering an extreme case , that of risk neutrality . A risk - neutral person is one for whom risk is costless . Such a person cares only ...
˹éÒ 508
... person and given to a poorer person , the mar- ginal utility lost by the rich person is less than the marginal utility gained by the poorer person . Thus taking from the rich and giving to the poor increases total utility . Maximum ...
... person and given to a poorer person , the mar- ginal utility lost by the rich person is less than the marginal utility gained by the poorer person . Thus taking from the rich and giving to the poor increases total utility . Maximum ...
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