Both Canada and the U

question 35

Multiple Choice

Both Canada and the U.S.can produce equally tasty strawberries.What determines which country will export strawberries?

• A)how the opportunity cost in Canada compares to the opportunity cost in the U.S.
• B)how the costs of production in Canada compare to the costs of production in the U.S.
• C)how the costs of labour in Canada compare to the costs of labour in the U.S.
• D)how the costs of strawberries in Canada compares to the cost of strawberries in the U.S.

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Definitions:

Actual Data Points

The real, observed values or measurements recorded during an experiment or study.

Fitted Values

Predicted values calculated from a statistical model, used to compare against actual values observed in the data.

Simple Linear Regression Model

A statistical method for modeling the relationship between a single independent variable and a dependent variable by fitting a linear equation.

Slope

In mathematics, the slope of a line is a number that describes both the direction and the steepness of the line, often calculated as the rise over run in linear functions.