The law of comparative advantage says that a person should produce a good if he or she: Group of answer choices can produce the good at the same cost as another producer can. receives the highest marginal benefit from the good. has an absolute advantage in producing the good. has the lowest opportunity cost of producing the good. has the greatest desire to consume the good.

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?