If Individual X Has a Comparative Advantage in Painting Fences

question 59

Multiple Choice

If individual X has a comparative advantage in painting fences and individual Y has a comparative advantage in carpentry,we know that

• A)individual X would use fewer hours to paint a fence than individual Y.
• B)individual Y is a better carpenter than X.
• C)we cannot tell whether specialization should occur without information on each person's absolute advantage.
• D)there is a lower opportunity cost (expressed in units of carpentry)for individual X to paint than for individual Y to paint.

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Definitions:

Lost Wax

A method of metal casting in which a molten metal is poured into a mold that has been created by means of a wax model, which melts and runs out, leaving a detailed impression behind.

Carving

A sculptural technique in which the artist cuts away material (for example, from a stone block) in order to create a statue or a relief.

Drilling

The process of creating holes or removing material using a drill bit and a drilling machine, applied in various contexts from manufacturing to construction.

Communication Systems

Networks or processes by which information is exchanged among individuals or groups, especially within an organization.