Multiple Choice
Although it lacks sources of timber and oil, Chablis has a plentiful supply of grapes for its many wineries. Which statement about Chablis is true?
A) It has a comparative advantage in wine production.
B) It has a comparative advantage in timber and oil production.
C) It has an absolute advantage in the production of wine.
D) It has an absolute advantage in timber and oil production.
E) It has no comparative or absolute advantages.
Correct Answer:
Verified
Correct Answer:
Verified
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