Multiple Choice
Suppose Jim and Tom can both produce baseball bats.If Jim's opportunity cost of producing baseball bats is lower than Tom's opportunity cost of producing baseball bats,then
A) Tom must have an absolute advantage in the production of baseball bats.
B) Jim must have an absolute advantage in the production of baseball bats.
C) Tom has a comparative advantage in the production of baseball bats.
D) Jim has a comparative advantage in the production of baseball bats.
Correct Answer:
Verified
Correct Answer:
Verified
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