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

question 3

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) Mia has an absolute advantage in producing hair pins but not bandanas.
• B) Mia has an absolute advantage in producing bandanas but not hair pins.
• C) Mia has an absolute advantage in producing both goods.
• D) Mia does not have an absolute advantage in producing either good.

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Definitions:

Clean-up Cost Liability

The legal responsibility for the expenses associated with the removal and remediation of environmental pollution.

Bubble Concept

A business or economic idea that suggests a potentially unrealistically high valuation of an asset or business sector, which may lead to a burst or sudden decline.

Emissions

The release of pollutants or greenhouse gases into the atmosphere from various sources like industrial activities, vehicles, and natural events.

Superfund Clean-up Costs

Expenses associated with the cleanup of contaminated sites under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), often referred to as "Superfund."