Suppose an American Worker Can Make 100 Chairs or Catch

question 87

Multiple Choice

Suppose an American worker can make 100 chairs or catch 1,000 fish per day.A Chilean worker,on the other hand,can produce 40 chairs or catch 400 fish per day.Which of the following statements is true?

• A) The United States has the comparative advantage in chair production.
• B) Chile has the comparative advantage in chair production.
• C) Both the United States and Chile have a comparative advantage in chair production.
• D) Neither the United States nor Chile has a comparative advantage in chair production.

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Definitions:

Transaction Costs

Expenses incurred when buying or selling securities, including broker's fees, commissions, and taxes, which can affect the overall profitability of an investment.

Stock Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, though the market capitalization remains the same.

Pre-split Price

The pre-split price is the value of a stock before it undergoes a split, affecting the total number of shares in circulation but not the company's market capitalization.

Post-split Price

Post-split price is the share price of a stock after the company has completed a stock split, adjusting the price proportionately to the split ratio.