Use the Information Below to Answer the Following Questions

question 69

Multiple Choice

Use the information below to answer the following questions.
Fact 2.3.1
In an eight-hour day,Andy can produce either 24 loaves of bread or 8 kilograms of butter.In an eight-hour day,Rolfe can produce either 8 loaves of bread or 8 kilograms of butter.
-Refer to Fact 2.3.1.Which one of the following statements is true?

• A)Andy has an absolute advantage in butter production.
• B)Rolfe has an absolute advantage in butter production.
• C)Andy has a comparative advantage in bread production.
• D)Andy has a comparative advantage in butter production.
• E)Rolfe has a comparative advantage in bread production.

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Definitions:

Private Property

Land or belongings owned by an individual or group that has the legal right to exclude others from its use or benefits.

Theoretical Statement

A proposition or idea that forms part of a theoretical framework, intended to explain a phenomenon or predict future observations.

Facts

Statements that can be proven to be true or existent through evidence or demonstration.

Events

are occurrences or activities that take place at a specific time and place, often involving participation or observation by people.