Figure 3-23 the Graph Below Represents the Various Combinations of Ham and Ham

question 66

Multiple Choice

Figure 3-23
The graph below represents the various combinations of ham and cheese (in pounds) that the nation of Bonovia could produce in a given month.
-Refer to Figure 3-23.The nation of Cropitia has a comparative advantage over Bonovia in producing ham if

• A)Cropitia can produce more than 400 pounds of ham per month.
• B)Cropitia can produce more than 320 pounds of cheese per month.
• C)Cropitia's opportunity cost of producing a pound of ham is less than 0.8 pounds of cheese.
• D)Cropitia's opportunity cost of producing a pound of ham is greater than 0.8 pounds of cheese.

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Definitions:

Parol Evidence Rule

A principle that courts will not permit outside evidence to contradict clear wording of a contract.

Extrinsic Evidence

Evidence not contained in the document itself but that may be used to interpret, clarify, or add context to the document.

Express Terms

Specific conditions and obligations explicitly stated and agreed upon by the parties in a contract.

Non Est Factum

A defense in contract law that the person signing the document did not understand its nature due to a significant mistake.