Question
Produce a watermelon Produce a cantaloupe Florida 2 days 3 days Georgia 3 days 6 days Florida and Georgia can produce either watermelons or cantaloupe.
Produce a watermelon
Produce a cantaloupe
Florida
2 days
3 days
Georgia
3 days
6 days
Produce a watermelon | Produce a cantaloupe | |
Florida | 2 days | 3 days |
Georgia | 3 days | 6 days |
Florida and Georgia can produce either watermelons or cantaloupe. The table above shows the production time it takes each state to make the goods. What can be said about absolute and comparative advantage with cantaloupe production?
_________ has the absolute advantage in cantaloupe production.
_________ has the comparative advantage in cantaloupe production.
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Microeconomics Principles For A Changing World
Authors: Eric Chiang
4th Edition
1464186677, 978-1464186677
