Aperson has a comparative advantage in an activity whenever he or she can do everything better than anyone else. can perform the activity at a lower opportunity cost than can anyone else. has an absolute advantage in the activity. can do the activity in less time than anyone else.

Acoase solution to a problem of externality ensures that a socially efficient outcome is to

Acompany manufactures x units of product a and y units of product b, on two machines, i and ii. it has been determined that the company will realize a profit of $3 on each unit of product a and $4 on each unit of product b. to manufacture a unit of product a requires 7 min on machine i and 5 min on machine ii. to manufacture a unit of product b requires 8 min on mchine i and 5 min on machine ii. there are 175 min available on machine i and 125 min available on machine ii in each work shift. how many units of a product should be produced in each shift to maximize the company's profit p?

Communication comes in various forms. which of the following is considered an old form of communication? a) e-mail b) letter c) skype d) texting