Multiple Choice
Table 3-4
Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate.
-Refer to Table 3-4.Assume that the farmer and the rancher each has 40 labor hours available.If each person spends all his time producing the good in which he has a comparative advantage,then total production is
A) 4 pounds of meat and 5 pounds of potatoes.
B) 10 pounds of meat and 20 pounds of potatoes.
C) 14 pounds of meat and 25 pounds of potatoes.
D) 24 pounds of meat and 15 pounds of potatoes.
Correct Answer:
Verified
Correct Answer:
Verified
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