The table below presents the production possibilities schedules for the Florida and California, each of which produces potatoes and oranges. Production Possibilities Schedules for Florida and California Florida California Potatoes Oranges (pounds) Potatoes Oranges (pounds) (pounds) (pounds) 100 200 50 20 100 300 40 600 Which of the following statements is true concerning comparative advantage? Multiple Choice Florida has the comparative advantage in potatoes and California has the comparative advantage in oranges. California has the comparative advantage in potatoes and Florida has the comparative advantage in oranges. Florida has the comparative advantage in both potatoes and oranges. California has the comparative advantage in both potatoes and oranges.

The table below presents the production possibilities schedules for the Florida and California, each of which produces potatoes and oranges. Production Possibilities Schedules for Florida and California Florida California Potatoes Oranges (pounds) Potatoes Oranges (pounds) (pounds) (pounds) 100 200 50 20 100 300 40 600 Which of the following statements is true concerning comparative advantage? Multiple Choice Florida has the comparative advantage in potatoes and California has the comparative advantage in oranges. California has the comparative advantage in potatoes and Florida has the comparative advantage in oranges. Florida has the comparative advantage in both potatoes and oranges. California has the comparative advantage in both potatoes and oranges.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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