When a Person Has a Comparative Advantage in Producing a Good

question 88

Multiple Choice

When a person has a comparative advantage in producing a good or service,the person has

• A) a higher opportunity cost in producing that product than someone else.
• B) a constant opportunity cost in producing that product.
• C) a decreasing opportunity cost in producing that product.
• D) a lower opportunity cost in producing that product than someone else.
• E) an increasing marginal benefit in producing the good.

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Definitions:

Confidence Interval

A statistical range, with a certain probability, that is likely to contain the true value of an unknown population parameter.

Mean Height

The average height of a group of individuals.

Confidence Interval

A set of values, from sampled data, believed to contain the value of an obscure population parameter.

Sample Mean

The arithmetic average of a set of values sampled from a population, used as an estimate of the population mean.