-In Table 17.1 the Brazil Has

question 86

Multiple Choice

-In Table 17.1 the Brazil has

• A)An absolute and comparative advantage in apples.
• B)An absolute and comparative advantage in coffee.
• C)An absolute and comparative advantage in both goods.
• D)An absolute advantage but not a comparative advantage in coffee.

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Definitions:

Income Decreases

A situation where an individual's or household's earnings fall over a period, affecting their purchasing power and standard of living.

Choice Set

The collection of options or alternatives from which a decision-maker is able to choose in a decision-making process.

Marginal Utility

The additional satisfaction or utility received by a consumer from consuming one more unit of a good or service.

Total Utility

The sum satisfaction or benefit a consumer receives from consuming a particular quantity of a good or service.