[經(jīng)濟學]曼昆經(jīng)濟學原理chapter-在線瀏覽
2025-03-08 16:26本頁面
【正文】 If there is no trade, the rancher chooses this production and consumption. A Parable for the Modern Economy ? Specialization and trade –Farmer – specialize in growing potatoes ? More time growing potatoes ? Less time raising cattle –Rancher – specialize in raising cattle ? More time raising cattle ? Less time growing potatoes –Trade: 5 oz of meat for 15 oz of potatoes –Both gain from specialization and trade 6 169。 2022 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a passwordprotected website for classroom use. How Trade Expands the Set of Consumption Opportunities (c) The proposed trade between the farmer and the rancher offers each of them a bination of meat and potatoes that would be impossible in the absence of trade. In panel (a), the farmer gets to consume at point A* rather than point A. In panel (b), the rancher gets to consume at point B* rather than point B. Trade allows each to consume more meat and more potatoes. Figure 2 8 169。s production and consumption without trade Meat (oz) 0 12 24 Potatoes (oz) 24 48 B Rancher’s production and consumption without trade Farmer39。s consumption with trade 13 18 12 27 B* Rancher’s consumption with trade Rancher’s production with trade Comparative Advantage ? Absolute advantage –Produce a good using fewer inputs than another producer ? Opportunity cost –Whatever must be given up to obtain some item –Measures the tradeoff between the two goods that each producer faces 9 169。 2022 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a passwordprotected website for class
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