In Applying the High-Low Method, Which Months Are Relevant A)January and February
B)January and April
C)February and April
D)February

question 102

Multiple Choice

In applying the high-low method, which months are relevant? $$\begin{array} { l c c } \text { Month } & \text { Miles } & \text { Total Cost } \\\text { January } & 80,000 & \$ 192,000 \\\text { February } & 50,000 & 160,000 \\\text { March } & 70,000 & 188,000 \\\text { April } & 90,000 & 260,000\end{array}$$

• A)January and February
• B)January and April
• C)February and April
• D)February and March

Interpret production possibility frontiers and their implications for trade and specialization.

Evaluate the impact of specialization and trade on world production and consumption.

Calculate the opportunity cost of producing goods in different countries.

Distinguish between absolute and comparative advantage in international trade contexts.

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