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For Questions 4 and 5 , consider the following scenario. Harry and Mitch spend their workdays producing watermelon and sugar. The table below provides a
For Questions and consider the following scenario. Harry and Mitch spend their workdays producing watermelon and sugar. The table below provides a summary of the number of units of each good that each worker could produce in a full week notice that Harry's output of watermelon is generically given by W Answer the following questions based upon these values.
tableWatermelon,SugarHarryMitch
Mitch's Opportunity Cost for producing a unit of sugar is units of watermelons.
A
B
C
D
Harry possesses a Comparative Advantage in the production of watermelon even though Mitch possesses an Absolute Advantage in the production of watermelon for
A
B
None the above answers are correct, since there are values for which for which Harry possess a Comparative Advantage the production watermelon even though Mitch possesses Absolute Advantage the production watermelon.
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