Figure 9-1 The Figure Illustrates the Market for Coffee in Guatemala

question 27

Multiple Choice

Figure 9-1
The figure illustrates the market for coffee in Guatemala.
-Refer to Figure 9-1.From the figure it is apparent that

• A)Guatemala will experience a shortage of coffee if trade is not allowed.
• B)Guatemala will experience a surplus of coffee if trade is not allowed.
• C)Guatemala has a comparative advantage in producing coffee,relative to the rest of the world.
• D)foreign countries have a comparative advantage in producing coffee,relative to Guatemala.

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Definitions:

Product's Advantage

The unique benefits or features of a product that give it an edge over competing products in the marketplace.

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

International Expansion

The process of a business extending its operations or market reach beyond its home country.

Corporate Jet

A private jet owned or leased by a corporation for the transportation of its executives, employees, or clients, often signifying luxury or efficiency in business travel.