If Jim Can Sell Paper at a Lower Opportunity Cost

question 148

Multiple Choice

If Jim can sell paper at a lower opportunity cost than Dwight can,then:

• A) Jim has an absolute advantage in paper sales.
• B) Dwight has an absolute advantage in paper sales.
• C) Jim has a positive advantage in paper sales.
• D) Jim has a comparative advantage in paper sales.
• E) Dwight has a comparative advantage in paper sales.

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Definitions:

Power Factor

A measure of how effectively electrical power is converted into useful work output, representing the ratio of the real power flowing to the load to the apparent power in the circuit.

RLC Parallel Circuit

An electrical circuit consisting of resistors (R), inductors (L), and capacitors (C) connected in parallel, affecting the impedance and phase of the circuit.

Inductive VARs

Volt-Amps Reactive attributed to inductance in a circuit, representing power that oscillates between the source and an inductive load but does not perform work.

Impedance

A measure of the opposition that a circuit presents to the passage of a current when a voltage is applied, incorporating both resistance and reactance.