Which Is True of Portugal in the Table

question 12

Multiple Choice

Which is true of Portugal in the table?

• A)Portugal has an absolute advantage over England in both cloth and wine.
• B)England's opportunity cost for producing wine is lower than Portugal's.
• C)Portugal can produce more wine than England.
• D)Neither country has a comparative advantage in the production of cloth.
• E)Neither country has a comparative advantage in the production of wine.

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Definitions:

Discrete Random Variable

A type of random variable that can take on a countable number of distinct values.

Outcomes

Outcomes refer to the results or consequences of actions, processes, or interventions, which can be measured to assess effectiveness or impact.

Distribution

In statistics, the way in which values of a variable are spread or dispersed across possible values.

Contribution Margin

The amount remaining from sales revenue after all variable expenses have been deducted, indicating the contribution towards covering fixed costs and generating profit.