QUESTION 13 Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can produce 24 units of food per year or 12 units of clothing. Which of the following is true? Alland has both a comparative and absolute advantage in producing food. Alland has comparative advantage, but not an absolute advantage, in producing food. Georgeland has both a comparative and absolute disadvantage in producing clothing. Georgeland has an absolute disadvantage,

QUESTION 13 Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can produce 24 units of food per year or 12 units of clothing. Which of the following is true? Alland has both a comparative and absolute advantage in producing food. Alland has comparative advantage, but not an absolute advantage, in producing food. Georgeland has both a comparative and absolute disadvantage in producing clothing. Georgeland has an absolute disadvantage,

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section: Chapter Questions

Problem 5PA

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