Solved

If a Person Has the Lowest Opportunity Cost of Producing

Question 23

Multiple Choice

If a person has the lowest opportunity cost of producing a particular good,that person has a(n)


A) comparative advantage.
B) absolute advantage.
C) comparative and absolute advantage.
D) absolute advantage and a possible comparative advantage.
E) relative advantagE.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q18: The Principle of Increasing Opportunity Cost indicates

Q19: In one 8-hour workday,Hector can produce 25

Q20: The major cost,or penalty,imposed by increasing specialization

Q21: The principle of comparative advantage states that

Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3713/.jpg" alt=" -Refer to the

Q24: The production possibilities curve is<br>A) the boundary

Q25: Good W is on the vertical axis

Q26: The introduction of compulsory retirement for all

Q27: If a given production combination is efficient,then

Q28: Which of the following factors will cause