Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the table below to answer questions 3 to 4 . 3. The table above shows the number of pencils or pens that could be
Use the table below to answer questions 3 to 4 . 3. The table above shows the number of pencils or pens that could be produced by Guyana and Brazil in an hour. This table shows that a. Guyana has an absolute advantage over Brazil in the production of both pencils and pens b. Brazil has an absolute advantage over Guyana in the production of both pencils and pens c. Guyana has a comparative advantage over Brazilin the production of both peneils and pens d. Brazil has a comparative advantage over Guyana in the production of both pencils and pens 4. Guyana's opportunity cost of producing pens is a. 2 b. 1/2 c. 3 d. 0.33
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