George and Laura live on an island in the Caribbean. Their diet is fish and biscuits. George can bake 20 biscuits or spear 10 fish each day, while Laura can bake 48 biscuits or spear 12 fish each day. For each person, costs remain constant. According to the preceding information, Select one: a. George has a comparative advantage in the production of both goods. b. Laura has a comparative advantage in the production of both goods c. George has a comparative advantage in producing biscuits, and Laura has a comparative advantage in producing fish. d. George has a comparative advantage in producing fish, and Laura has a comparative advantage in producing biscuits

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.