If the Opportunity Cost of Production for Two Goods Is

question 156

Multiple Choice

If the opportunity cost of production for two goods is different between two countries, then

• A) trade cannot benefit either country.
• B) only one country can be made better off by trade.
• C) mutually beneficial trade is possible.
• D) trade will only benefit both countries if one can lower its opportunity costs.

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Definitions:

Casual Friday

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A group's shared belief in its conjoint capabilities to organize and execute the courses of action required to achieve given objectives.

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The collective belief in a team's abilities and competence to perform tasks and achieve goals.

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The achievement of predefined objectives and goals by a group of individuals working collaboratively.