Someone Has a Comparative Advantage in Producing a Good Whenever

question 78

Multiple Choice

Someone has a comparative advantage in producing a good whenever

• A) one enjoys producing that good.
• B) one can produce more of the good than someone else using the same resources.
• C) one's opportunity cost is constant.
• D) one's opportunity cost of producing that good is lower than that of other producers.
• E) one has specific training in the production of that good.

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Definitions:

Frankfurt Parliament

The Frankfurt Parliament was an assembly convened in 1848 in Frankfurt, aiming to unify the German states and create a constitution for a unified Germany.

Upper-middle-class

A social class in society that is above the middle class, often including professionals, managers, and business owners who enjoy high economic status and cultural influence.

Third Estate

The common people of France under the ancien régime, distinct from the clergy (First Estate) and the nobility (Second Estate), who played a key role in the French Revolution.

Frankfurt Parliament

An assembly of German delegates from various states in 1848-1849, aiming to unify the German states and create a national constitution.