Multiple Choice
Figure 16-6
-According to Figure 16-6,which of the following statements is correct?
A) Chile has the both the absolute and comparative advantage in the production of bicycles.
B) India has both the absolute and comparative advantage in the production of bicycles.
C) Chile has the absolute advantage in the production of wagons but India has the comparative advantage.
D) India has the absolute advantage in the production of bicycles but Chile has the comparative advantage.
E) India has the absolute advantage in the production of wagons but Chile has the comparative advantage.
Correct Answer:
Verified
Correct Answer:
Verified
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