Multiple Choice
Assume that China has a comparative advantage in producing corn and exports corn to Japan.We can conclude that
A) China also has an absolute advantage in producing corn relative to Japan.
B) China has a lower opportunity cost of producing corn relative to Japan.
C) Japan has an absolute disadvantage in producing corn relative to China.
D) labour costs are higher for corn producers in Japan than in China.
Correct Answer:
Verified
Correct Answer:
Verified
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