The Idea of Comparative Advantage Is Related to

question 126

Multiple Choice

The idea of comparative advantage is related to

• A) the idea of opportunity cost.
• B) the idea of absolute advantage.
• C) using the worker with the most diverse sets of skills.
• D) engineering efficiency.

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Definitions:

Bananas

A tropical fruit that is elongated and curved, with soft pulpy flesh rich in starch, enclosed in a rind which may be green, yellow, or brown when ripe.

Utility Function

An equation that quantifies the happiness or satisfaction obtained by a consumer from consuming different bundles of goods and services.

Income

The amount of money received, typically on a regular basis, for work or through investments.

Nuts

Edible kernels from a variety of plants, often characterized by high fat and protein content.