Multiple Choice
You have an absolute advantage in producing something whenever:
A) you enjoy producing that good.
B) you can produce more of it than someone else can using the same quantity of resources.
C) your opportunity cost is constant.
D) your opportunity cost is lower than that of other producers.
E) you have specific training in the production of that good.
Correct Answer:

Verified
Correct Answer:
Verified
Q46: How will a reduction in the national
Q126: Suppose that Sheldon and Leonard can either
Q127: Michael and Angelo are both artists who
Q128: Consider the following scenario to answer the
Q129: The process of examining a change in
Q130: If Elaine can produce more output from
Q131: use the figures below to answer
Q133: The important act of holding all other
Q134: Refer to the following figure for the
Q136: Which of the following is a normative