Tom is a castaway who washes up on a remote island. He can kill eight birds per hour or catch ten fish per day. The natives on the island can kill ten birds per day or catch twenty fish per day. According to comparative advantage,
a. Tom should kill more birds and fish less, then trade birds for fish.
b. Tom should kill fewer birds and fish more, then trade fish for birds.
c. Both, Tom should
kill more birds and fish less.
d. Both, Tom should kill fewer birds and fish more.
a
Economics
You might also like to view...
In the four-quadrant diagram of the specific factors model, the graph in the upper right quadrant is a country's
A) production possibility frontier. B) labor allocation constraint. C) production function for food. D) production function for cloth. E) labor supply curve.
Economics
Refer to the graph shown. Expectations of inflation are 2 percent at point(s):
A. B, C, and D. B. D. C. B. D. A and C.
Economics