For a given amount of resources, Japan and the UK can produce the following quantities of motorbikes or bicycles:
Which statement is correct?
A) The UK has a comparative advantage in motorbikes.
B) Japan has a comparative advantage in bicycles.
C) The UK has a comparative advantage in bicycles.
D) The UK has an absolute advantage in bicycles.
E) The UK has no absolute or comparative advantage in either product.
Correct Answer:
Verified
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