A Country Has a Comparative Advantage in the Production of a Good

question 263

Multiple Choice

A country has a comparative advantage in the production of a good if it can

• A) produce more of the good than another country.
• B) produce more of the good most efficiently.
• C) produce the good on and remain on its production possibilities frontier.
• D) tradeoff producing the good for another good.
• E) produce the good at the lowest opportunity cost.

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Definitions:

Range

The gap between the maximum and minimum numbers within a dataset.

College Student

An individual who is enrolled in and attending courses at a college or university.

Interquartile Range

A measure of variability, calculated as the difference between the upper and lower quartiles, indicating the spread of the middle 50% of the dataset.

Range

The difference between the highest and lowest values in a dataset, providing a measure of the overall spread.