Multiple Choice
Graph 3-1
These figures illustrate the production possibilities frontiers for Robinson Crusoe and Friday with 12 hours of labour.
-According to Graph 3-1:
A) Robinson Crusoe has a comparative advantage in fish, and Friday has a comparative advantage in coconuts
B) Robinson Crusoe has a comparative advantage in coconuts, and Friday has a comparative advantage in fish
C) Robinson Crusoe has a comparative advantage in fish, and Friday has a comparative advantage in fish
D) Robinson Crusoe has a comparative advantage in fish, and Friday has a comparative advantage in neither goods
Correct Answer:
Verified
Correct Answer:
Verified
Q18: Table 3-3<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text
Q19: Mark is a computer company executive, and
Q20: Graph 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 3-2
Q21: The principle of comparative advantage was developed
Q22: Table 3-2<br> <span class="ql-formula" data-value="\begin{array}{|c|c|c|c|c|}\hline&\text
Q24: Graph 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 3-2
Q25: If two countries have identical opportunity costs,
Q27: Table 3-3<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text
Q28: Table 3-3<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text
Q77: For a country producing two goods, the