If the Opportunity Cost of Producing a T-Shirt Is ________

question 199

Multiple Choice

If the opportunity cost of producing a T-shirt is ________ in China than in the United States,China has ________ advantage in producing T-shirts.

• A) lower; a comparative
• B) lower; an absolute
• C) higher; a comparative
• D) higher; an absolute
• E) higher; no

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Definitions:

Airline Prices

The cost of air travel tickets, influenced by various factors including fuel costs, demand, seasonality, and competition.

Trucking Firms

Companies that specialize in the transportation of goods by road, providing logistics and freight services over short or long distances.

Mergers

The combination of two or more companies into a single entity, often with the goal of increasing market share, reducing costs, or expanding into new markets.

Industry

The collection of businesses and factories that produce a particular type of goods or services.