Suppose Ethan and Ava work in a farm that grows apples and oranges of the same size. In one hour, Ethan can pick 8 pounds of apples or 1 pound of oranges. Ava can pick 6 pounds of apples or 1 pound of oranges. It can be concluded that
A) Ava has a comparative advantage in picking apples.
B) Ava has an absolute advantage in picking apples.
C) Ethan has a comparative advantage in picking apples.
D) Ethan has an absolute advantage in picking oranges.
C
Economics
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In the above table, the level of autonomous consumption is
A) $9,000. B) $0. C) $5,000. D) $1,000.
Economics
Typically a firm's economic profit will be
A) greater than its accounting profit. B) less than its accounting profit. C) equal to its accounting profit. D) equal to its accounting profit minus its tax liability. E) equal to its accounting profit plus the market value of any unsold inventory.
Economics