The production possibilities for country X are either 6,000 bushels of soybeans or 10,000 bushels of wheat. The production possibilities for country Y are either 2,000 bushels of soybeans or 4,000
Bushels of wheat. Which of the following is true?
A) Country Y should specialize in the growing of soybeans according to the principle of comparative advantage.
B) Country X is the least-cost producer of wheat.
C) The domestic opportunity cost of wheat production is lower in country Y.
D) The high-cost producer of soybeans is country X.
Correct Answer:
Verified
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