When a Person Has a Comparative Advantage in Producing a Good

question 88

Multiple Choice

When a person has a comparative advantage in producing a good or service,the person has

• A) a higher opportunity cost in producing that product than someone else.
• B) a constant opportunity cost in producing that product.
• C) a decreasing opportunity cost in producing that product.
• D) a lower opportunity cost in producing that product than someone else.
• E) an increasing marginal benefit in producing the good.

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Definitions:

Syntactic Level

Relates to the arrangement of words and phrases to create well-formed sentences in a language.

Concrete Level

A specific stage or phase in the understanding or development of a concept, characterized by tangible, clear, and direct aspects.

Abstract Level

This term refers to a conceptual stage that is not tied to specific, tangible examples, focusing instead on ideas or concepts in their most generalized form.

Gütergemeinschaft

A legal regime in certain civil law jurisdictions where married couples own all assets, properties, and income jointly.