By the principle of comparative advantage,Jameson should specialize in producing

Question

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According to the principle of comparative advantage, individuals or countries should specialize in producing goods or services in which they have a lower opportunity cost. In the given scenario, Jameson has a lower opportunity cost of producing cheese as compared to houses because he can produce cheese at a lower cost (in terms of time, resources, and effort) than producing houses. Therefore, Jameson should specialize in producing cheese while someone else can specialize in producing houses, leading to increased efficiency and overall productivity.

By the Principle of Comparative Advantage,Jameson Should Specialize in Producing