Business, 13.08.2021 02:00, camimilligan114
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 24 units of food per year or 12 units of clothing.
Which of the following is true?
a. Alland has a comparative advantage, but not an absolute advantage, in producing food.
b. Alland has an absolute advantage in producing food but will not trade with Georgeland.
c. Georgeland has a comparative advantage, but not an absolute advantage, in producing clothing.
d. Georgeland has both a comparative and absolute advantage in producing clothing.
Answers: 3
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Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person...
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