Absolute Advantage

question 99

Multiple Choice

Absolute advantage

• A)is the same as comparative advantage
• B)implies autarky
• C)means that countries of the same size have the same opportunity cost of producing both goods
• D)means that a country can produce more of two goods than another country can
• E)means that a country can produce less of two goods than another country can

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Definitions:

Slack Variables

Additional variables introduced into linear programming problems to convert inequality constraints into equality constraints.

Nonnegative

A term describing numbers that are greater than or equal to zero, excluding negative numbers.

A-type Steel Sheets

A classification of steel sheets, this term may refer to a specific quality, grade, or characteristic defined by a manufacturing or industry standard (assuming hypothetical; otherwise NO).

Solver

An optimization tool used in computational software that finds the maximum or minimum value of a function under given constraints.