Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can you help me prove that (a) is correct (which my key states is the correct answer) or is it d, which one of my
Can you help me prove that (a) is correct (which my key states is the correct answer) or is it "d", which one of my students think is the case?
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can produce 16 units of food per year or 8 units of clothing. Which of the following is true?
- a. Georgeland has a comparative advantage, but not an absolute advantage, in producing clothing. (This is the correct answer.)
- b. Georgeland has both a comparative and absolute advantage in producing clothing.
- c. Alland has a comparative advantage, but not an absolute advantage, in producing food.
- Selected: d. Alland has an absolute advantage, but not comparative advantage, in producing food.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started