If Pat Can Produce a Good or Service at a Lower

question 9

Multiple Choice

If Pat can produce a good or service at a lower opportunity cost than Chris can,then

• A) Pat has a comparative advantage in producing the good or service
• B) no gains are possible through specialization
• C) Pat must have an absolute advantage in producing the good or service
• D) Pat must be more talented than Chris
• E) society is at a point along its production possibilities frontier

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Definitions:

Friction

Resistance of one surface to the motion of another surface rubbing over it.

Resistance

Resistance can refer to the opposition to the flow of electric current or the ability of organisms to withstand the effects of an adverse agent, such as antibiotics or pesticides.

Motion

The action or process of moving or being moved, applicable to physical objects, body parts, or even particles.

Anaphylactic

A severe and potentially life-threatening allergic reaction.