Which of the Following Statements Shows How Absolute Advantage Can

question 123

Multiple Choice

Which of the following statements shows how absolute advantage can be distinguished from comparative advantage? I. Absolute advantage refers to the ability to produce a good using fewer inputs, while comparative advantage is based on the monthly amount. II. Absolute advantage is based on the yearly production amount that a country can produce, while comparative advantage is based on the monthly production amount. III. Absolute advantage refers to the ability to produce a larger amount of goods with the same number of inputs, whereas comparative advantage refers to the ability to have the lowest opportunity cost of production.

• A) I and III only
• B) II and III only
• C) I, II, and III
• D) III only

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Definitions:

Proximal End

The part of a limb or structure that is closest to the center of the body.

Radius

The radius is one of the two large bones of the forearm, located on the thumb side when the palm is facing up.

Ulna

The longer of the two bones in the forearm, running parallel to the radius and forming the elbow joint at its larger end.

Coronoid Process

A protruding structure on the upper jaw bone or on the ulna at the elbow, serving as an attachment point for muscles.