If one person has the absolute advantage in producing both of two goods, then that person
a. must also have a comparative advantage in both goods
b. cannot benefit from trade
c. cannot have a comparative advantage in either good
d. will have the comparative advantage in only one good
e. should specialize in the production of both goods
D
Economics
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A) G + T. B) Y - tYN. C) tYN - G. D) YN + G + tYN.
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a. 3 ½ years b. 4 ½ years c. 5 ½ years d. 6 ½ years
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The steel industry is an example of a homogeneous oligopoly.
Answer the following statement true (T) or false (F)
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