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