The following figure shows the production possibilities curves (PPCs) of two individuals, Ryan and Tom.
-Refer to the figure above.Which of the following statements is true?
A) Ryan has an absolute advantage in the production of Good 1, whereas Tom has an absolute advantage in the production of Good 2.
B) Tom has an absolute advantage in the production of Good 1, whereas Ryan has an absolute advantage in the production of Good 2.
C) Ryan has an absolute advantage in the production of both goods.
D) Tom has an absolute advantage in the production of both goods.
Correct Answer:
Verified
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