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Literature homework help

02/04/2020 Client: jessical Deadline: 2 Day

  Which of the following is not a basic question that each economy must answer?


 [removed]A) Which resources are scarce?

 [removed]B) For whom shall the goods be produced?

 [removed]C) How shall goods be produced?

 [removed]D) What goods shall be produced?




2. If Kim can either wash 10 cars or wax 2 cars during a day, and Vince can either wash 17 cars or wax 2 cars during a day, then according to the law of comparative advantage,


[removed]A) Vince's opportunity cost of waxing a car is less than Kim's.

 [removed]B) their total output can be expanded if Kim specializes in waxing and Vince in washing.

 [removed]C) their total output can be expanded if Kim specializes in washing and Vince in waxing.

 [removed]D) it would be impossible for Vince and Kim to increase their total output through specialization and mutual exchange.

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