When a Producer Has the Ability to Produce a Good

question 136

Multiple Choice

When a producer has the ability to produce a good or service at a lower opportunity cost than others, economists say the producer:

• A) has an absolute advantage at producing that good.
• B) has a comparative advantage at producing that good.
• C) has no reason to trade with others.
• D) is efficient in production.

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Definitions:

Carbon-Carbon Double Bond

A chemical bond between two carbon atoms involving four bonding electrons, the basis of alkenes' structure and reactivity.

Geometry

The branch of mathematics concerning the properties and relations of points, lines, surfaces, solids, and higher dimensional analogs.

Alkene

Unsaturated hydrocarbons with at least one double bond between carbon atoms, exhibiting properties like addition reactions.

(Z)-2-Chloro-4-Ethylhex-2-Ene

A geometric isomer of an organic compound characterized by a specific arrangement of atoms, including a chloride and ethyl group.