In India one person can produce 300 pounds of rice or 100 shirts in one year. In China one person can produce 400 pounds of rice or 200 shirts in one year. Which of the following statements is true? O India has a comparative advantage in the production of rice China has a comparative advantage in the production of rice O China has both an absolute and comparative advantage in the production of rice India has an absolute advantage in the production of rice

In India one person can produce 300 pounds of rice or 100 shirts in one year. In China one person can produce 400 pounds of rice or 200 shirts in one year. Which of the following statements is true? O India has a comparative advantage in the production of rice China has a comparative advantage in the production of rice O China has both an absolute and comparative advantage in the production of rice India has an absolute advantage in the production of rice

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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