A good synonym for "utility" is

The ability to produce a good at a lower opportunity cost than someone else is called

A) competitive production. B) comparative advantage. C) selective advantage. D) absolute advantage.

If Indiana has an absolute advantage over Maine in producing both corn and ball bearings, then

a. Indiana should produce both corn and ball bearings b. there are no benefits possible from specialization c. Maine should produce ball bearings and Indiana should produce corn d. Indiana should produce ball bearings and Maine should produce corn e. they still may benefit from specialization, but more information is needed to determine which state should specialize in each