Asked by
Darcie Gauthier
on Nov 30, 2024
Verified
From these figures we can conclude that
A) China has a comparative advantage in rice.
B) China has a comparative advantage in radios.
C) the United States has a comparative advantage in radios.
D) neither has a comparative advantage in these two goods.
Comparative Advantage
The ability of a country to produce a particular good or service at a lower opportunity cost than its trading partners.
- Learn about the doctrines of absolute and comparative advantage and how they are leveraged in international commerce contexts.
Verified Answer
CT
Learning Objectives
- Learn about the doctrines of absolute and comparative advantage and how they are leveraged in international commerce contexts.