-Using the Data in the Above Table and Assuming Constant

question 277

Multiple Choice

-Using the data in the above table and assuming constant opportunity costs, it is correct to state that

• A) the United States has a comparative advantage in producing food.
• B) Mexico has an absolute advantage in producing both food and cloth.
• C) the United States has a comparative advantage in producing both food and cloth.
• D) Mexico has a comparative advantage in producing cloth.

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Definitions:

Corporate Fraction

A segment or part of the corporate sector, often referring to a specific industry or group within the broader corporate landscape.

Consumerist Fraction

A segment within society that prioritizes and emphasizes the consumption of goods and services as a key part of social and economic life.

Hybridization

The process or result of combining different cultures, ideas, or technologies, leading to new forms or practices.

Local Cultures

The distinctive practices, beliefs, and values of specific geographic communities, reflecting their historical and social contexts.