Table 2-9 Table 2-9 Shows the Number of Labor Hours Required to of Labor

question 176

Multiple Choice

Table 2-9

Table 2-9 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras.
-Refer to Table 2-9.Guatemala has a comparative advantage in the production of

• A)canoes.
• B)sailboats.
• C)both products.
• D)neither product.

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Definitions:

Average Collection Period

The mean duration required by a business to receive payments due from its clients.

Accounts Payable Period

The average time it takes for a business to pay off its suppliers after receiving goods or services, reflecting on the company's cash management efficiency.

Average Collection Period

The typical time frame for a company to receive dues from its clients for goods or services offered on credit.