Labour hours needed to make 1 kilogram: Meat Kilograms produced in 12 hours: Potatoes 12 Potatoes Meat Farmer 4 1 3 Rancher 4 6 3 2 28. Refer to the above table. What does each producer have an absolute advantage in? The farmer has an absolute advantage in meat, and the rancher has an absolute advantage in potatoes. а. b. The farmer has an absolute advantage in neither, and the rancher has an absolute advantage in meat. The farmer has an absolute advantage in potatoes good, and the rancher has an absolute advantage in both goods. C. The farmer has an absolute advantage in potatoes, and the rancher has an absolute
Labour hours needed to make 1 kilogram: Meat Kilograms produced in 12 hours: Potatoes 12 Potatoes Meat Farmer 4 1 3 Rancher 4 6 3 2 28. Refer to the above table. What does each producer have an absolute advantage in? The farmer has an absolute advantage in meat, and the rancher has an absolute advantage in potatoes. а. b. The farmer has an absolute advantage in neither, and the rancher has an absolute advantage in meat. The farmer has an absolute advantage in potatoes good, and the rancher has an absolute advantage in both goods. C. The farmer has an absolute advantage in potatoes, and the rancher has an absolute
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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