-Huey and Steve Can Grow Potatoes or Tomatoes

question 247

Multiple Choice

-Huey and Steve can grow potatoes or tomatoes.The table above shows the pounds of potatoes and tomatoes Huey and Steve can grow in a week.Based on the table,which of the following statements is correct?

• A) Steve has an absolute advantage in both potatoes and tomatoes.
• B) Steve has a comparative advantage in both potatoes and tomatoes.
• C) Steve has an absolute advantage in potatoes only.
• D) Huey has an absolute advantage in potatoes only.
• E) Huey has an absolute advantage in both potatoes and tomatoes.

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Definitions:

Compounded Monthly

Describes the method of computing interest by adding the interest from past periods to the original principal amount and then doing the calculations monthly.

Rate of Return

The earnings or losses accrued from an investment over a predetermined period, measured as a fraction of the investment's buying price.

Interest Rate

The interest rate is the percentage charged on the total amount borrowed or invested, representing the cost of borrowing or the earning from an investment over a specified period.

Loan

A financial amount given as a loan, anticipated to be returned with interest.