Answer:
Explanation:
I usually read whenever I'm bor;ed or go on y-ou'tube.
Answer: b. No country has an absolute advantage in all activities.
Explanation:
Looking at the graph chart presented, we can tell that no country has an absolute advantage (taking less hours to produce a good) for both the production of olive oil and wine.
This means that the countries with better absolute advantages in one area should focus on those activities and then trade this good with the other country for the other good that they do not have an absolute advantage in.
<em>Note: Comparative advantage is a better measure for when countries need to specialize but due to the option I explained with absolute advantage. </em>
If a total of 3300 people voted in the election and 11/20 of them preferred Ms. Williamson to Ms. Stallings:
3300 * 11/20 = 1815
Answer: Ms. Williamson has: A ) 1815 voters
Alrighty, I don't know what point C is but I do know what opportunity cost is and will attempt to give you some more insight into the question. Opportunity cost is a trade off. It's what you give up in order to obtain something else. For example, you would pay more in order to have a car with more safety features. A higher price for the consumers in exchange for more safety.