A Person Who Has an Absolute Advantage in the Production

question 122

Multiple Choice

A person who has an absolute advantage in the production of all goods will

• A)also have a comparative advantage in the production of all goods.
• B)not be able to gain from specialization and trade.
• C)produce all goods at the lowest opportunity cost.
• D)not have a comparative advantage in the production of any goods.
• E)have a comparative advantage in the production of only some goods and not others.

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Definitions:

Personal Power

The influence or authority an individual has over others, stemming from personal attributes or competencies.

Resistance

Opposition or reluctance to accept, comply with, or change in response to new ideas, changes, or leadership attempts.

Influence Attempt

Efforts made by an individual or group to change the attitudes, beliefs, or behaviors of another individual or group.

Higher Authority

Individuals or entities that hold superior power or influence within a hierarchy and can make significant decisions affecting those below them.