Select one: O Neither country has a comparative advantage in the production of timber or honey. O Leeland has a comparative advantage in the production of timber and Torland has a comparative advantage in honey. O Torland has a comparative advantage in the production of timber and Leeland has a comparative advantage in honey. O Both countries have a comparative advantage in the production of timber and honey.
Select one: O Neither country has a comparative advantage in the production of timber or honey. O Leeland has a comparative advantage in the production of timber and Torland has a comparative advantage in honey. O Torland has a comparative advantage in the production of timber and Leeland has a comparative advantage in honey. O Both countries have a comparative advantage in the production of timber and honey.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Practice Pack
Q2
![Timber 25
(millions
of tons)
Key
Torland
Leeland
20
15
10
5
10
15
20
25
Honey (millions of tons)
Figure 2 Production possibility frontiers for two countries
Figure 2 shows the production possibility frontiers for two countries, Torland and
Leeland. Select one correct statement from the following options:
Select one:
O Neither country has a comparative advantage in the production of timber or
honey.
O Leeland has a comparative advantage in the production of timber and Torland
has a comparative advantage
honey.
O Torland has a comparative advantage in the production of timber and Leeland
has a comparative advantage in honey.
O Both countries have a comparative advantage in the production of timber and
honey.
( Previous page
Next page](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0557e0e-7c52-43d2-b9f4-a887bc43498a%2Fc2b171dc-3e2f-4a17-abb8-45c66e3de78f%2Fzmxkpud_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Timber 25
(millions
of tons)
Key
Torland
Leeland
20
15
10
5
10
15
20
25
Honey (millions of tons)
Figure 2 Production possibility frontiers for two countries
Figure 2 shows the production possibility frontiers for two countries, Torland and
Leeland. Select one correct statement from the following options:
Select one:
O Neither country has a comparative advantage in the production of timber or
honey.
O Leeland has a comparative advantage in the production of timber and Torland
has a comparative advantage
honey.
O Torland has a comparative advantage in the production of timber and Leeland
has a comparative advantage in honey.
O Both countries have a comparative advantage in the production of timber and
honey.
( Previous page
Next page
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