Use the following information for the next two questions: the U.S. can produce 4 tons of potatoes per day or 2 tons of wheat per day. Ireland can produce 3 tons of potatoes per day or one ton of wheat. 17. The opportunity cost for Ireland producing one ton of potatoes is how many tons of wheat? one-fourth 1/3 a. b. с. 1 d. 3 The U.S. has the comparative advantage in producing potatoes. wheat. a. b. C. both. d. neither. It is possible to have a comparative advantage without having any absolute advantages. а. true b. false

Use the following information for the next two questions: the U.S. can produce 4 tons of potatoes per day or 2 tons of wheat per day. Ireland can produce 3 tons of potatoes per day or one ton of wheat. 17. The opportunity cost for Ireland producing one ton of potatoes is how many tons of wheat? one-fourth 1/3 a. b. с. 1 d. 3 The U.S. has the comparative advantage in producing potatoes. wheat. a. b. C. both. d. neither. It is possible to have a comparative advantage without having any absolute advantages. а. true b. false

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Description: Use the following information for the next two questions: the U.S. can produce 4 tons ofpotatoes per day or 2 tons of wheat per day. Ireland can produce 3 tons of potatoes perday or one ton of wheat.17.The opportunity cost for Ireland producing one

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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