In one hour, the United States can produce 25 tons of steel or 250 automobiles.In one hour, Japan can produce 30 tons of steel or 275 automobiles.This information implies that:
A.Japan has a comparative advantage in the production of automobiles.
B.the United States has an absolute advantage in the production of steel.
C.Japan has a comparative advantage in the production of both goods.
the United States has a comparative advantage in the production of automobiles.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q106: An economy is said to have a
Q107: (Table: Fish and Coconut Production Possibilities) Look
Q108: Q109: Q110: If they spend all night writing computer Q112: Which of the following statements is true? Q113: Roommates Sarah and Zoe are hosting a Q114: An economy that has the lowest opportunity Q115: If they spend all night writing computer Q116: (Table: Coffee and Salmon Production Possibilities II)![]()
![]()
A.Some
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents