In two hours of work, Clinton can catch 4 fish or he can pick 5 pints of berries. In two hours, Dong can catch 6 fish or she can pick 9 pints of berries. Which statement is true?
A) Clinton has a comparative advantage in catching fish.
B) Clinton has an absolute advantage in picking berries.
C) Clinton has an absolute advantage in catching fish.
D) Clinton has a comparative advantage in picking berries.
E) Clinton will lose if he trades.
Correct Answer:
Verified
Q16: The process by which each person feels
Q17: In a zero-sum game
A) both players can
Q18: In one hour, Chloe can bake 24
Q19: The terms of trade are
A) the quantity
Q20: It takes Mom 30 minutes to cook
Q22: On a graph of a production possibilities
Q23: To gain from comparative advantage, countries must
Q24: If Canada specializes in the production of
Q25: Figure 1.3.2
Monthly Production Possibilities for a Country
Q26: In two hours of work, Clinton can
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents