If Bob Has an Absolute Advantage Over Pete in Both

question 33

True/False

If Bob has an absolute advantage over Pete in both typing and woodworking,then Bob also has a comparative advantage over Pete in both activities.

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Definitions:

Consumer Surplus

The gap in the aggregate amount consumers are willing and can afford to pay for a service or good versus the aggregate amount paid.

Football Stadium

A large venue designed to host football games along with a wide range of sports and entertainment events.

Consumer Surplus

The variance between a consumer's willingness to pay for a service or product and the actual amount paid for it.

Cotton T-shirts

Garments made from the soft fibers of the cotton plant, noted for their comfort and breathability.