Multiple Choice
-Refer to Table 3-1. What does each producer have an absolute or comparative advantage in?
A) The rancher has an absolute advantage in both goods, and the farmer has a comparative advantage in meat.
B) The rancher has an absolute advantage in meat, and the farmer has a comparative advantage in potatoes.
C) The rancher has an absolute advantage in meat, and the farmer has a comparative advantage in neither good.
D) The rancher has an absolute advantage in both goods, and the farmer has a comparative advantage in potatoes.
Correct Answer:
Verified
Related Questions