A Producer Has a Comparative Advantage Over Other Producers If

question 108

Multiple Choice

A producer has a comparative advantage over other producers if his production of the good involves:

• A) more inputs.
• B) fewer inputs.
• C) a higher opportunity cost.
• D) a lower opportunity cost.

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Definitions:

Justice Department

The United States federal executive department responsible for the enforcement of the law and administration of justice.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed by Congress in 1890 that prohibits monopolistic and anticompetitive practices.

U.S. Exports

Goods, services, and technologies sent from the United States to other countries, contributing to trade balances and economic growth.

Eastman Kodak Co.

A renowned multinational corporation known for its extensive contributions to photography and imaging technology.