Someone Has a Comparative Advantage in Producing a Good Whenever

question 78

Multiple Choice

Someone has a comparative advantage in producing a good whenever

• A) one enjoys producing that good.
• B) one can produce more of the good than someone else using the same resources.
• C) one's opportunity cost is constant.
• D) one's opportunity cost of producing that good is lower than that of other producers.
• E) one has specific training in the production of that good.

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Definitions:

Federal Statute

A law enacted by the national government that applies to all states and people within the United States.

Legislation

The process of making or enacting laws, including the preparation and passage of bills through a legislative body.

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The legislative branch of the United States government, responsible for making laws and consisting of two chambers: the Senate and the House of Representatives.

Commercial Speech

Any type of speech or communication used by businesses intended for marketing or commercial purposes, which is protected under certain legal frameworks.