Two Individuals Engage in the Same Two Productive Activities

question 79

Multiple Choice

Two individuals engage in the same two productive activities. In which of the following circumstances would neither individual have a comparative advantage in either activity?

• A) One individual's production possibilities frontier is steeper than the other individual's production possibilities frontier.
• B) One individual is faster at both activities than the other individual.
• C) One individual's opportunity costs are the same as the other individual's opportunity costs.
• D) None of the above is correct; one of the two individuals always will have a comparative advantage in at least one of the two activities.

Explain the role of partial performance, admission, and promissory estoppel in satisfying the statute of frauds.

Identify and understand the basic concepts of human development beginning from a single cell.

Recognize the various factors that can cause mutations and their effects on human genetics.

Describe the process and significance of cell division and the role of chromosomes in heredity.

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Definitions:

Profitability Ratios

Financial metrics used to assess a business's ability to generate earnings relative to its revenue, operating costs, balance sheet assets, or shareholders' equity.

Operating Effectiveness

A measure of how well an organization is managing its core business functions to achieve its objectives efficiently and effectively.

Percentage Increase

The amount of increase in a value or quantity, expressed as a percentage of its original value.

Sales

The exchange of goods or services for money, recognized as revenue by businesses.