Table 3-3 Assume That Zimbabwe and Portugal Can Switch Between Producing Toothbrushes

question 304

Multiple Choice

Table 3-3
Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing hairbrushes at a constant rate.

-Refer to Table 3-3.Zimbabwe has an absolute advantage in the production of

• A) toothbrushes and a comparative advantage in the production of toothbrushes.
• B) toothbrushes and a comparative advantage in the production of hairbrushes.
• C) hairbrushes and a comparative advantage in the production of toothbrushes.
• D) hairbrushes and a comparative advantage in the production of hairbrushes.

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Definitions:

Sample Size

The number of individual observations or elements taken from a population to form a sample for the purpose of statistical analysis.

Standard Deviation

A metric used to quantify the spread of values in a dataset, demonstrating how far the values deviate from the central value.

Sampling Distribution

The likelihood distribution of a certain statistic derived from a random sample, utilized to draw conclusions about a population.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to infer population parameters.