Scenario: Consider Two Economies, Beta and Zeta

question 53

Multiple Choice

Scenario: Consider two economies, Beta and Zeta. Each farmer in Beta can grow 1,000 pounds of apples or 500 pounds of oranges in a year. Each farmer in Zeta can grow 400 pounds of apples or 1,200 pounds of oranges in a year.
-Refer to the scenario above.Which of the following statements is true in this case?

• A) Beta has both comparative and absolute advantage in producing apples.
• B) Zeta has both comparative and absolute advantage in producing apples.
• C) Beta has a comparative advantage in producing oranges and absolute advantage in producing apples.
• D) Zeta has a comparative advantage in producing apples and absolute advantage in producing oranges.

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Definitions:

Repercussions

The consequences or effects that follow a particular action or decision, often within a legal or regulatory context.

Filing Procedures

The official steps required to properly submit legal documents to a court or governmental agency.

Practice of Law

The Practice of Law involves advising clients, representing them in legal matters, and conducting lawsuits to secure their legal rights and interests.

Large and Small Firms

Refers to the size difference between law firms, affecting their structure, client base, and area of specialization.