Ricardo Explained the Law of Comparative Advantage on the Basis

question 11

Multiple Choice

Ricardo explained the law of comparative advantage on the basis of:

• A)the labor theory of value
• B)the opportunity cost theory
• C)the law of diminishing returns
• D)all of the above

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Definitions:

College Cafeteria

A dining establishment located within a college that provides meals to students, faculty, and sometimes the public.

Probability Sampling

Type of sampling procedure in which one is able to specify the probability that any member of the populationwill be included in the sample.

Specific Population

A specific population refers to a defined group of individuals who share one or more characteristics for the purposes of research or study.

Precise Statements

Clearly defined and unambiguous declarations that convey specific information accurately.