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Rashid [163]
3 years ago
5

If luke can bake bread at a lower opportunity cost than jason, and jason can produce paintings at a lower opportunity cost than

luke, it follows that
a. luke has a comparative advantage in paintings and jason has a comparative advantage in baking bread.


b. both luke and jason have a comparative advantage in baking bread.


c. both luke and jason have a comparative disadvantage in producing paintings.


d. luke has a comparative advantage in baking bread and jason has a comparative advantage in producing paintings.


e. there is not enough information to answer the question.
Business
1 answer:
ankoles [38]3 years ago
8 0

Answer:

The correct answer is option d.

Explanation:

Comparative advantage refers to the situation where an individual, firm or nation can produce a good at a relatively lower cost than its competitors.

Luke can bake bread at a relatively lower opportunity cost while Jason can produce paintings at a relatively lower opportunity cost.

This implies that Luke has a comparative advantage in baking bread and Jason has a comparative advantage in making paintings.

Luke specializes in baking bread and Jason specializes in making paintings.

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The opening of a new American-owned factory in Algeria would tend to increase Algeria's GDP more than it increases Algeria's GNP
Delicious77 [7]

Answer:

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Answer:

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