Ask Question
BusinessBusiness
30 November, 19:15

Which of the following is true?

a. A nation can have a comparative advantage in the production of a good only if it also has an absolute advantage.

b. A nation can have a comparative advantage in the production of every good, but not an absolute advantage.

c. A nation cannot have an absolute advantage in the production of every good.

d. A nation cannot have a comparative advantage in the production of every good.

+5
Answers (1)
  1. 30 November, 19:34
    0
    Answer: Option (D) is correct.

    Explanation:

    Correct option: A nation cannot have a comparative advantage in the production of every good.

    A country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower than the other country.

    While calculating the opportunity cost of producing a commodity, country takes into account both the commodities. Hence, it was not possible that a country is having comparative advantage in the production of every commodity.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following is true? a. A nation can have a comparative advantage in the production of a good only if it also has an absolute ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
True or false? The best way to choose the right social media tool is to think about your business goals, then narrow down your choices based on that goal criteria.
Answers (1)
Which of the following are true about retirement? Select all that apply. 1. health needs can cut into retirement funds 2. accidents do not affect retirement funds 3. part of retirement planning includes the costs for things you might need or want 4.
Answers (1)
Suppose that there are only two small countries in the world: ascot, with a population of 37 comma 500 people, and delwich, with a population of 25 comma 000 people. ascot's gdp is equal to $160 million while delwich's gdp is $256 million.
Answers (1)
Which of the following illustrates an opportunity cost? A) James has enough money to buy some socks and a book. B) Alyssa does not have enough time to study for her test. C) Amir only has time to study or to play basketball.
Answers (1)
Why is it often difficult for a new supervisor or manager to be promoted from within? What specific challenges often accompany that promotion and how should he or she handle those challenges? g
Answers (1)
New Questions in Business
A nation seeking to increase its overall productivity might be best served by investing money into which area?
Answers (1)
What are some examples of human capital (skills or knowledge) that our economic system (capitalism) overvalues? Give at least two examples of professions or skills that you believe are paid too much for what they do.
Answers (1)
Nichols Corporation's value of operations is equal to $600 million after a recapitalization (the firm had no debt before the recap). It raised $150 million in new debt and used this to buy back stock.
Answers (1)
A decedent owned 300 shares of closely held xyz stock jointly with her brother. this property must be reported on
Answers (1)
What is the document that the marketing researcher pledges to deliver as a result of the marketing research process?
Answers (1)
Home » Business » Which of the following is true? a. A nation can have a comparative advantage in the production of a good only if it also has an absolute advantage. b.
Sign Up Forgot Password?