Multiple Choice
Which of the following describes comparative advantage?
A) Firm A can produce a good at a cost of $3 and Firm B can produce the good at a cost of $4.
B) Jane can type 50 words per minute and Joe can type 60 words per minute.
C) To produce a bushel of wheat Farmer John must give up 2 bushels of corn whereas Farmer Ben must give up 3 bushels of corn.
D) Company A can produce 4 boxes of cereal in a day whereas Company B can produce 5 boxes of cereal in a day.
Correct Answer:
Verified
Correct Answer:
Verified
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