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Farmer Rancher Labour hours needed to make 1 kilogram: Kilograms produced in 36 hours: Meat 9 3 Potatoes 3 Meat 4 12 Potatoes 12 9 Refer to Table 3-1. What does each producer have an absolute or comparative advantage in? The farmer has an absolute advantage in potatoes, and the rancher has a comparative advantage in meat. The farmer has an absolute advantage in meat, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in meat.

Farmer Rancher Labour hours needed to make 1 kilogram: Kilograms produced in 36 hours: Meat 9 3 Potatoes 3 Meat 4 12 Potatoes 12 9 Refer to Table 3-1. What does each producer have an absolute or comparative advantage in? The farmer has an absolute advantage in potatoes, and the rancher has a comparative advantage in meat. The farmer has an absolute advantage in meat, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in meat.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 4SCQ: In Germany it takes three workers to make one television and four workers to make one video camera....
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Farmer Rancher Labour hours needed to make 1 kilogram: Kilograms produced in 36 hours: Meat 9 3 Potatoes 3 4 Meat 4 12 Potatoes 12 Refer to Table 3-1. What does each producer have an absolute or comparative advantage in? The farmer has an absolute advantage in potatoes, and the rancher has a comparative advantage in meat. The farmer has an absolute advantage in meat, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in meat.
Transcribed Image Text:Farmer Rancher Labour hours needed to make 1 kilogram: Kilograms produced in 36 hours: Meat 9 3 Potatoes 3 4 Meat 4 12 Potatoes 12 Refer to Table 3-1. What does each producer have an absolute or comparative advantage in? The farmer has an absolute advantage in potatoes, and the rancher has a comparative advantage in meat. The farmer has an absolute advantage in meat, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in potatoes. The farmer has an absolute advantage in neither good, and the rancher has a comparative advantage in meat.
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