Having 1 doesn't mean you'll produce everything while other nations don't. Nations determine what they have the 2 in, and produce that.

Comparative advantage is when a nation, business, or person can produce a good or service at a lower 3 than anyone else.

A. 1-opportunity cost, 2-absolute advantage, 3-comparative advantage

B. 1-absolute advantage, 2-comparative advantage, 3-opportunity cost

C. 1-comparative advantage, 2-absolute advantage, 3-opportunity cost

D. 1-comparative advantage, 2-opportunity cost, 3-absolute advantage

Leon and sara are arguing over when the best time is to degrease soup. leon says that it's easiest to degrease soup when it's boiling. sara says it's easiest to degrease soup when it's cold. who is correct? a. neither leon nor sara is correct. b. leon is correct. c. both leon and sara are correct. d. sara is correct. student b   incorrect which following answer correct?

On january 1, eastern college received $1,350,000 from its students for the spring semester that it recorded in unearned tuition and fees. the term spans four months beginning on january 2 and the college spreads the revenue evenly over the months of the term. assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on february 28?

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.