Under English law, the rights of colonists differed from those of the English

Fab Tools Inc can produce 150 widgets and 100 axes in a month. Another company AllMyTools Inc can produce 180 widgets and 50 axes per month. Which of the following statements is true?

a. Fab Tools has a comparative advantage in the production of widgets. b. Fab Tools has an absolute advantage in the production of both goods. c. AllMyTools has a comparative advantage in the production of widgets. d. AllMyTools has an absolute advantage in the production of both goods.

A natural monopoly exists when one large firm can produce a product at a lower per unit cost than can smaller firms

a. True b. False Indicate whether the statement is true or false