The idea behind comparative advantage reflects the possibility that one party
a. may be able to produce something relatively more efficiently than another.
b. may be able to produce something at a lower opportunity cost than another.
c. may be able to produce something more cheaply than another.
d. all of the above
Question 2
An ideal pollution control policy:
a. would reduce pollution to zero.
b. would reduce pollution to the socially efficient level.
c. discourage firms from wasting time developing abatement technologies.
d. reduce pollution as quickly as possible, regardless of the cost.
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