A Person with a Lower Opportunity Cost of Producing a Good

question 63

Multiple Choice

A person with a lower opportunity cost of producing a good than another person

• A)does not have a comparative advantage in either good.
• B)has a comparative advantage in that good.
• C)has no incentive to trade in that good.
• D)has a comparative advantage in the other good.
• E)has an absolute advantage in the other good.

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Definitions:

Operational Definition

A clear, precise, and measurable definition of a variable or concept under investigation, ensuring that it can be empirically tested.

Measure

An action taken to quantitatively assess or determine the extent, dimensions, quantity, or capacity of something.

Synonyms

Words that have the same or nearly the same meaning as another word in the same language.

Antonyms

Words that have opposite meanings, such as "hot" and "cold."