Use the Table Below to Answer the Following Question

question 24

Multiple Choice

Use the table below to answer the following question. The table outlines the production possibilities for two hypothetical countries. Which of the following statements is true?

• A) Redland has a comparative advantage in producing oats.
• B) Redland enjoys a comparative advantage in producing both products and could not gain from exchange.
• C) Redland should specialize in producing mutton and should trade for oats.
• D) In this example, Blueland has nothing to gain through trade with Redland.

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Definitions:

Rounded

A numerical value that has been adjusted to a less precise form, often to make it simpler or easier to communicate.

Median

In a dataset arranged by size, either upwards or downwards, the middlemost value is referred to as the median.

Median

The value located at the midpoint of an arranged dataset, in order from smallest to largest or reverse, is known as the median.