Refer to the information provided in Figure 20.1 below to answer the question(s) that follow. Figure 20.1
-Refer to Figure 20.1. Which of the following statements is true?
A) The United States has both an absolute advantage and a comparative advantage in the production of soybeans and alfalfa.
B) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of soybeans.
C) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of alfalfa.
D) The United States has a comparative advantage in the production of both soybeans and alfalfa, but an absolute advantage only in the production of soybeans.

Question

Refer to the information provided in Figure 20.1 below to answer the question(s) that follow.  Figure 20.1
-Refer to Figure 20.1. Which of the following statements is true?
A) The United States has both an absolute advantage and a comparative advantage in the production of soybeans and alfalfa. 
B) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of soybeans. 
C) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of alfalfa. 
D) The United States has a comparative advantage in the production of both soybeans and alfalfa, but an absolute advantage only in the production of soybeans.

Quizplus · Accepted Answer

The Answer of Refer to the information provided in Figure 20.1 below to answer the question(s) that follow.  Figure 20.1
-Refer to Figure 20.1. Which of the following statements is true?
A) The United States has both an absolute advantage and a comparative advantage in the production of soybeans and alfalfa. 
B) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of soybeans. 
C) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of alfalfa. 
D) The United States has a comparative advantage in the production of both soybeans and alfalfa, but an absolute advantage only in the production of soybeans.

Refer to the Information Provided in Figure 20