Comparative advantage means the ability to produce a good or service
A) at a higher profit level than any other producer.
B) at a lower selling price than any other producer.
C) of a higher quality than any other producer.
D) at a lower opportunity cost than any other producer.
D
Economics
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What happens when the supply of a nonperishable good is greater than the consumer wants to buy?
What will be an ideal response?
Economics
Assume the typical shapes of the demand and supply curves. If both demand and supply increase in a competitive market, the equilibrium price will
a. always rise b. always fall c. rise if demand increases more than supply increases d. fall if demand increases more than supply increases e. remain unchanged
Economics