Table 2.5 Table 2.5 Shows the Output Per Week of Two

question 10

Multiple Choice

Table 2.5

Table 2.5 shows the output per week of two jewelers, Serena and Haley.They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2.5.Which of the following statements is true?

• A)Haley has a comparative advantage in making both products.
• B)Serena has a comparative advantage in making both products.
• C)Haley has a comparative advantage in making bracelets and Serena in making necklaces.
• D)Haley has a comparative advantage in making necklaces and Serena in making bracelets.

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Definitions:

Suit Against

This term generally describes the initiation of legal action or litigation by one party against another.

Common Carrier

A business or service that offers to transport goods or people for anyone willing to pay, under a regulatory or legal obligation to do so without discrimination.

Delivery Contract

A legal agreement specifying the terms of delivery for goods or services from a seller to a buyer.

Goods-In-Bailment

A legal term referring to the temporary transfer of possession of personal property by one party to another, with the intent that the property will be returned.