Table 3-12 -Refer to Table 3-1.Relative to the Rancher,the Farmer Has

question 1

Multiple Choice

Table 3-12

-Refer to Table 3-1.Relative to the rancher,the farmer has

• A) a comparative advantage in the production of meat, because the farmer's opportunity cost of a pound of meat is lower than the rancher's opportunity cost of a pound of meat.
• B) a comparative advantage in the production of potatoes, because the rancher requires less time than the farmer to produce a pound of potatoes.
• C) a comparative advantage in the production of potatoes; relative to the farmer, the rancher has a comparative advantage in the production of meat.
• D) an absolute advantage in the production of both meat and potatoes.

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Definitions:

Conflict

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Identify Solutions

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