When the Principle of Comparative Advantage Is Used to Guide

question 5

Multiple Choice

When the principle of comparative advantage is used to guide trade, then a country will specialize by producing only

• A) goods for which production costs are more than average total costs.
• B) goods with the highest opportunity cost.
• C) goods for which production takes fewer worker-hour than another country.
• D) goods with the lowest opportunity costs.

---

Definitions:

M/M/S

A queueing model denoting a system with multi-servers where both arrivals and service times are Markovian (memoryless and exponentially distributed).

M/D/1

A queueing model notation that represents a system with a Poisson arrival process, deterministic service time, and a single server.

Limited Population

A specific, restricted group of individuals or entities considered within a particular context or study.

Poisson Arrivals

A statistical distribution that models the number of events occurring in a fixed interval of time or space, assuming independence among arrivals.