Answered step by step
Verified Expert Solution
Link Copied!

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Economics

Authors: Stephen Smith

6th Edition

0199583587, 9780199583584

More Books

Students also viewed these Economics questions

Question

=+b) What is the interpretation of the coefficient for Pedro Start?

Answered: 1 week ago

Question

The background knowledge of the interpreter

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago