Wagons Tricycles O A. O B. O C. O D. James 16 32 The table above shows the output per week of two people, James and Lucy. They can either devote their time to making wagons or making tricycles. Which of the following statements is true? Lucy 18 24 Lucy has a comparative advantage in making both products. Lucy has a comparative advantage in making tricycles and James in making wagons. James has a comparative advantage in making both products. Lucy has a comparative advantage in making wagons and James in making tricycles.
Wagons Tricycles O A. O B. O C. O D. James 16 32 The table above shows the output per week of two people, James and Lucy. They can either devote their time to making wagons or making tricycles. Which of the following statements is true? Lucy 18 24 Lucy has a comparative advantage in making both products. Lucy has a comparative advantage in making tricycles and James in making wagons. James has a comparative advantage in making both products. Lucy has a comparative advantage in making wagons and James in making tricycles.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 30P: In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10...
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