Answer: Option (C) is correct.
Explanation:
A country has a comparative advantage in producing a commodity if the opportunity cost of producing that good is lesser in that country as compared to the other country.
From the information given in the question, it is clear that Alphaland has a comparative advantage in axes and Betaville has a comparative advantage in batons.
Hence, Alphaland will trade axes for batons only if the price of batons is lower than the cost of producing it in Alphaland. So that there is a possibility mutually beneficial trade.
Ecological niche. ✨
I assume this is for psych, or something.
Answer:
1. Medium of exchange, 2. Unit of Account and 3. Store of value
Explanation:
Please see attachment
It is a settlement agreement, where the defendant could pay the plaintiff an agreed amount to settle the dispute.