If Canada Has a Comparative Advantage Over Mexico in the Production

question 57

Multiple Choice

If Canada has a comparative advantage over Mexico in the production of timber, then

• A)the explicit cost of production for timber is lower in Canada than in Mexico.
• B)the opportunity cost of production for timber is lower in Canada than in Mexico.
• C)the implicit costs of production for timber are higher in Canada than in Mexico.
• D)the average cost of production for timber is lower in Canada than in Mexico.

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Definitions:

Probability

A rephrased definition: A statistical metric that quantifies the chance that a specific event or outcome will happen.

Likely Viewer

A term used to describe someone who is considered a probable audience member for a particular television show, movie, or event based on certain criteria.

Unlikely Viewer

A person or demographic that is not expected to be interested in viewing certain content or media.

Probability

A numerical scale from 0 to 1 that articulates the chances or probability of an event taking place.