Multiple Choice
Which statement best describes the concept of the law of comparative advantage?
A) The individual with the lowest opportunity cost of producing a particular good should produce it.
B) Comparative advantage exists only when one person has an absolute advantage in the production of two goods.
C) Whoever has a comparative advantage in producing a good also has an absolute advantage in producing that good.
D) Whoever has an absolute advantage in producing a good also has a comparative advantage in producing that good.
Correct Answer:

Verified
Correct Answer:
Verified
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