Solved

Table 3-1 -According to Table 3-1:
A)the Potato Farmer Has an Absolute

Question 55

Multiple Choice

Table 3-1
 Labour hours needed to make 1 kg of:  Kgs produced in 20 hours:  Meat  Potatoes  Meat  Potatoes  Potato farmer 10524 Zattle farmer 41520\begin{array}{|l|c|c|c|c|}\hline&\text { Labour hours needed to make } 1 \mathrm{~kg} \text { of: }&&\text { Kgs produced in } 20 \text { hours: }\\\hline & \text { Meat } & \text { Potatoes } & \text { Meat } & \text { Potatoes } \\\hline \text { Potato farmer } & 10 & 5 & 2 & 4 \\\hline \text { Zattle farmer } & 4 & 1 & 5 & 20 \\\hline\end{array}
-According to Table 3-1:


A) the potato farmer has an absolute advantage in meat, and the cattle farmer has a comparative advantage in meat
B) the potato farmer has an absolute advantage in potatoes, and the cattle farmer has a comparative advantage in potatoes
C) the potato farmer has an absolute advantage in neither goods, and the cattle farmer has a comparative advantage in potatoes
D) the potato farmer has an absolute advantage in neither goods, and the cattle farmer has a comparative advantage in meat

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents