In which of the following scenarios does the United States have a comparative advantage in iron production?

Question

Quizplus · Accepted Answer

The U.S. worker has a comparative advantage in iron production because they have a lower opportunity cost of producing iron. The U.S. worker can produce 10 tons of iron OR 5 bushels of wheat, while the British worker can only produce 1 ton of iron OR 1 bushel of wheat. Therefore, the U.S. worker has a lower opportunity cost of producing iron (only 0.5 bushels of wheat) compared to the British worker (1 bushel of wheat).

In Which of the Following Scenarios Does the United States