Table 3.3 -Consider Two Individuals, Nigel and Mia, Who Produce Hair Pins

question 89

Multiple Choice

Table 3.3

-Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Which of the following is true?

• A) Nigel has both an absolute and comparative advantage in hair pin production.
• B) Nigel has both an absolute and comparative advantage in bandana production.
• C) Nigel has neither an absolute nor comparative advantage in hair pin production.
• D) Nigel has neither an absolute nor a comparative advantage in bandana production.

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Definitions:

Humphrey Gilbert

An English adventurer and explorer in the Elizabethan era, known for attempting to establish English colonies in North America.

Walter Raleigh

An English landed gentleman, writer, poet, soldier, politician, courtier, spy, and explorer known for popularizing tobacco in England and his expeditions to the Americas.

Aristocrats

Members of a social class regarded as the highest in society, often holding titles or hereditary honors.

Feudalism

A socio-economic system that dominated medieval Europe, characterizing the hierarchical relationship between lords and vassals based on land ownership and labor.