The law of comparative advantage says that a person should produce a good if he or she _____
A) has the greatest desire to consume the good.
B) has the lowest opportunity cost of producing the good.
C) has an absolute advantage in producing the good.
D) receives the highest marginal benefit from the good.
E) can produce the good at the same cost as another producer can.
Correct Answer:
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Q20: The term opportunity cost suggests that _
A)
Q21: Table 2.1 Q22: Table 2.2 Q23: Table 2.1 Q24: Table 2.2 Q26: Suppose you have purchased a nonrefundable plane Q27: Table 2.2 Q28: A cost that has already been incurred Q29: Table 2.2 Q30: Table 2.2 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
