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amid [387]
3 years ago
6

An individual has a comparative advantage in producing a good or service if the opportunity cost of producing the good or servic

e is higher for that individual than for other people. This is _____. Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices false
1. True
2. False:
Business
1 answer:
My name is Ann [436]3 years ago
8 0

Answer:

2. False

Explanation:

A person has comparative advantage in production if he produces at a lower opportunity cost when compared with other people.

For example, there are two bakers, Jean and Vincent. Vincent can produce either 5 cakes or 10 pizzas in 1 hour while Jean can produce either 8 cakes or 12 pizzas in one hour.

The opportunity cost for producing cake is:

Jean = 10/5 =2

Vincent = 12 / 8 = 1.5

Vincent has a lower opportunity cost when compared with Vincent in the production of cake, therefore, he has a comparative advantage.

I hope my answer helps you

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A company uses the FIFO method for inventory costing. During a period, a production department had 56,000 units in beginning goo
marishachu [46]

Answer:

158460 ( B )

Explanation:

Given data :

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attached below is the table representation of the solution

The number of equivalent units produced by the department

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3 years ago
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Answer: The correct answer is "B. increase productivity but increase unemployment.".

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8 0
3 years ago
What causes a change in the demand curve or a shift
nignag [31]

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4 years ago
Read 2 more answers
A company has the following items on its year-end trial balance:Net sales $500‚000Common stock 100,000Insurance expense 75,000Wa
Debora [2.8K]

Answer:

C. $400,000

Explanation:

The computation of the gross profit is shown below:

Gross profit = Net Sales - costs of goods sold

                   = $500,000 - $100,000

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All other information which is given is not relevant. Hence, ignored it                    

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3 years ago
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