Sign In Sign Up Ask an AI advisor
hrijaymadathil
hrijaymadathil
29.06.2019 • 
Business

Say that alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but georgeland can produce 36 units of food per year or 18 units of clothing. which of the following is true? georgeland has an absolute but not a comparative advantage in producing clothing.georgeland has both an absolute and a comparative advantage in producing clothing.alland has an absolute but not a comparative advantage in producing food.alland has both an absolute and a comparative advantage in producing nations that seek to produce all of their own needs face the problem that: some industries are too small to be efficient if restricted to their domestic markets alone.they can deplete their natural resources as a result.the opportunity cost of producing some of their own goods is lower than that of trading with others for them.they will not be able to satisfy the wants of all of their calpha can produce either 18 oranges or 9 apples an hour, while beta can produce either 16 oranges or 4 apples an hour. the opportunity cost of producing 1 orange for alpha and beta, respectively, are: 0.25 apples; 0.5 apples.9 apples; 4 apples.0.5 apples; 0.25 apples.2 apples; 4 apples--alternate outputs from one day's labor input: usa: 12 bushels of wheat or 3 yards of textiles.india: 3 bushels of wheat or 12 yards of textiles.the opportunity cost of one bushel of wheat in india is: 1 yard of textiles.3 yards of textiles.4 yards of textiles.12 yards of textiles.

Solved
Show answers

Ask an AI advisor a question

I want advice