Multiple Choice If one person can perform a task in fewer hours than another, you know the person has in performing the task. a. an absolute advantage. b. a comparative advantage. C. both a comparative advantage and an absolute advantage. rd. neither an absolute nor a comparativ advantage
1. A situation is efficient if a. no change can help some people without hurting others. b. the gain for some people offsets the loss for others. .C. the gain for some people more than offsets the loss to others. d. consumer surplus is maximized. e. producer surplus is maximized