In a Single Year,the Netherlands Can Raise 100 Tons of Beef

question 245

Multiple Choice

In a single year,the Netherlands can raise 100 tons of beef or produce 1,000 boxes of tulips.In the same growing season,Belgium can raise 50 tons of beef or produce 750 boxes of tulips.From this information,we know that:

• A)the Netherlands has a comparative advantage in raising beef.
• B)the Netherlands has a comparative advantage in raising tulips.
• C)Belgium has a comparative advantage in raising beef.
• D)Belgium has an absolute advantage in raising beef.

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Definitions:

EOQ Principles

Economic Order Quantity principles involve calculating the optimal order size to minimize the costs related to ordering, receiving, and holding inventory.

Operations

The activities and processes used to produce goods and services in an efficient and effective manner.

Interactive Effects

The combined impact on outcomes resulting from the interaction of two or more variables.

Mathematical Solution

The process or result of solving a problem or equation using mathematical methods and techniques.