- A - the author assumes the farmers can switch at a constant rate from producing meat to producing potatoes.
- B - can produce a good using fewer resources than other producers.
- A - has a lower opportunity cost than other producers in the production of a good.
- C - Nations should specialize in producing those goods for which they have an Absolute Advantage.
- B - Nations should specialize in producing those goods for which they have the lowest opportunity cost.
- A - Yes, as long as the boy's opportunity cost is less than half of Tiger Woods' opportunity cost.
- B - Yes, because the gains outweigh the losses: new businesses and new jobs will flourish in other industries.
- B - Jill should specialize in reviewing articles and Jim in typing.
- B - Jill has an absolute advantage over Jim in reviewing articles.
- C - free trade allows producers to specialize.
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