HW2_09sol - ECO 108 Introduction to Economics Problem Set 2...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
2-1 ECO 108: Introduction to Economics Problem Set 2 Chapter 2 Professor: Eva Carceles-Poveda 1. To say that an individual possesses an absolute advantage in the production of software means that individual A. has a lower opportunity cost of producing software. B. can produce more and/or higher quality software in a given amount of time. C. was the first to create the software. D. charges the lowest price for software. 2. If a nation can produce a good more quickly than any other nation, that nation has a(n) 3. If a nation has the lowest opportunity cost of producing a good, that nation has a(n)
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon