According to the Law of Comparative Advantage, a Particular Task

question 136

Multiple Choice

According to the law of comparative advantage, a particular task is performed most efficiently by the individual with the lowest

• A) wage rate.
• B) tax liability.
• C) net worth.
• D) opportunity cost.

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Definitions:

Hawthorne Works

A series of studies conducted at the Hawthorne Works in Chicago that looked into how different conditions affect the productivity of workers.

Western Electric Company

An American electrical engineering and manufacturing company that was the primary supplier for AT&T and its Bell System.

Lucent Technologies

A former telecom giant known for its innovations in telecommunications and networking equipment, eventually merged with Alcatel.

Hawthorne Effect

A phenomenon where individuals modify an aspect of their behavior in response to their awareness of being observed.