1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
RUDIKE [14]
3 years ago
7

Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can

produce 36 units of food per year or 18 units of clothing. Which of the following is true?
Georgeland has an absolute but not a comparative advantage in producing clothing.
Georgeland has both an absolute and a comparative advantage in producing clothing.
Alland has an absolute but not a comparative advantage in producing food.
Alland has both an absolute and a comparative advantage in producing food.
Business
1 answer:
bixtya [17]3 years ago
3 0

Answer:

Georgeland has an absolute but not a comparative advantage in producing clothing.

Explanation:

Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.

Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.

Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.

In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.

You might be interested in
When an account payable is paid off in full, an entry is journalized that credits
Sedbober [7]

Answer:

B

Explanation:

8 0
3 years ago
Read 2 more answers
Which of these is NOT one of the five ethical principles the GAO's Yellow Book stresses?
Anni [7]

Answer:

The correct answer is d. The proper safeguarding of client information.

Explanation:

According to chapter 3 of the GAO Yellow Book, the following are the ethical principles:

  1. The public Interest
  2. Integrity
  3. Objectivity
  4. The proper use of government information, resources, and position.
  5. Professional behavior.

Proper protection of customer information is not an ethical principle in this book, but it should be a factor to consider in the information manipulation process.

7 0
3 years ago
What is it determines a good trade agreement? (Economics)
neonofarm [45]

Answer: For duty-free or zero tariffs on as wide a range of products as possible.

Explanation: The best trade deals aim for duty-free or zero tariffs on as wide a range of products as possible. Better trade deals also include more than just goods. They extend pledges and commitments to include trade in services and investment.

4 0
2 years ago
The best way to limit competition is to: Choose one: A. control a resource that is essential in the production process. B. lobby
zloy xaker [14]

Answer:

A. control a resource that is essential in the production process.

Explanation:

When the crucial resource is required to make a product, then the restrictions on such resource would not allow, many people to enter in such business.

Also that the resources will be restricted in some or other manner, its price will increase accordingly the cost of producing such article would also increase.

As the cost of production will increase only producers with a high budget and resources in terms of finance will chose it.

5 0
3 years ago
If the average cost of producing 9 sweaters is $6. 50 and the marginal cost of producing the tenth sweater is $6. 25, the averag
mestny [16]

If the average cost of producing 9 sweaters is $6. 50 and the marginal cost of producing the tenth sweater is $6. 25, the average cost of producing 10 sweaters will be less than $6.50

If marginal cost is less than average cost, average cost will decrease and therefore be less than $6.50. In this case, average cost of producing 10 sweaters is ($6.50 x 9 + $6.25)/10 = $6.48.

The marginal cost is the variation in total cost brought on by an increase in output, or the cost of producing more. In certain contexts, it might refer to an increase in output of one unit, while in others, it can relate to the rate of change of total cost as output grows by a modest amount.

The total cost is expressed in dollars, whereas the marginal cost is expressed in dollars per unit. The marginal cost is the slope of the total cost, or the rate at which it increases with production.

Marginal cost is the distinction between average cost, which is the total cost divided by the number of units produced.

To learn more about Marginal Cost here

brainly.com/question/7781429

#SPJ4

8 0
1 year ago
Other questions:
  • Identify the characteristics of a retirement plan. Select all that apply. Determine age of retirement. Determine when to change
    11·2 answers
  • What is the best order to look for funding sources
    5·1 answer
  • Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.
    14·1 answer
  • Pablo has a $63,000 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in
    10·1 answer
  • Under absorption costing, a company had the following unit costs when 10,000 units were produced:DL: $2 per unitDM: $3 per unitV
    10·1 answer
  • A prototype is ________.
    11·1 answer
  • In ideal situations, the goal of communication is to: a. provide valuable feedback. b. reach mutual understanding. c. commend ot
    11·1 answer
  • After a product recall triggered by salmonella contamination and repeated violation citations by the health department, Mc Burge
    13·1 answer
  • Possible reason of high economic growth?​
    13·2 answers
  • Management moving production or other parts of the company's value chain to countries where wages are lower is an example of ___
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!