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Huey and Steve Can Grow Potatoes or Tomatoes

question 59

Multiple Choice

$\begin{array} { l | c c c } & \begin{array} { l } \text { Potatoes } \\\text { (pounds) }\end{array} && \begin{array} { c } \text { Tomatoes } \\\text { (pounds) }\end{array} \\\hline \text { Huey } & 12 & \text { or } & 8 \\\text { Steve } & 6 & \text { or } & 2\end{array}$
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Huey and Steve can grow potatoes or tomatoes. The table above shows the pounds of potatoes and tomatoes Huey and Steve can grow in a week. Based on the table, which of the following statements is correct?

• A)Steve has a comparative advantage in both potatoes and tomatoes.
• B)Huey has an absolute advantage in potatoes only.
• C)Huey has an absolute advantage in both potatoes and tomatoes.
• D)Steve has an absolute advantage in both potatoes and tomatoes.
• E)Steve has an absolute advantage in potatoes only.

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Definitions:

Total Equity

The total net value of a company, calculated as the difference between total assets and total liabilities, representing the ownership interest of the shareholders.

Working Capital

The difference between a company’s current assets and current liabilities, indicating the short-term financial health and operational efficiency.

Year-End Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at the end of a fiscal year.

Data

Information collected for analysis, reference, or computation, often used to inform decision-making or research.