The Producer That Requires a Smaller Quantity of Inputs to Produce

question 36

Multiple Choice

The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantities of inputs required by other producers to produce the same amount of that good,

• A)has a low opportunity cost of producing that good, relative to the opportunity costs of other producers.
• B)has a comparative advantage in the production of that good.
• C)has an absolute advantage in the production of that good.
• D)should be the only producer of that good.

---

Definitions:

Gas Chromatograph

An analytical machine used for separating and analyzing compounds that can be vaporized without decomposition, typically used in chemical analysis.

Gasoline Phase

A term describing gasoline in its liquid state as used in internal combustion engines, distinguishing it from gaseous fuel states.

Carbon Compounds

Organic molecules that contain carbon atoms bonded together or with other elements, forming the basis of organic chemistry.