Refer to the information provided in Figure 33.1 below to answer ...

[neverstopbelieb]

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.





Refer to Figure 33.1. Which of the following statements is 
true?

◦ The United States has both an absolute advantage and a comparative advantage in the production of soybeans and alfalfa.
◦ The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of soybeans.
◦ The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of alfalfa.
◦ The United States has a comparative advantage in the production of both soybeans and alfalfa, but an absolute advantage only in the production of soybeans.

[angrybirds13579]

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[itsmyluck]

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.





Refer to Figure 33.1. Which of the following statements is 
true?

◦ Only Canada can benefit from trade because the United States has an absolute advantage in the production of both soybeans and alfalfa.
◦ Trade will benefit both countries because the United States has a comparative advantage in the production of soybeans and Canada has a comparative advantage in the production of alfalfa.
◦ Trade will benefit both countries because the United States has a comparative advantage in the production of alfalfa and Canada has a comparative advantage in the production of soybeans.
◦ Trade will benefit neither country because the United States has an absolute advantage in the production of both soybeans and alfalfa, but Canada has a comparative advantage in the production of both soybeans and alfalfa.

[mcabuhat]

Trade will benefit both countries because the United States has a comparative advantage in the production of alfalfa and Canada has a comparative advantage in the production of soybeans.

[itsmyluck]

Thank you!

[mcabuhat]

Always glad to help...

[MirandaLo]

Question 1

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.





Refer to Figure 33.1. The opportunity cost of producing a bushel of alfalfa in the United States is

◦ twice as much as that in Canada.
◦ half as much as that in Canada.
◦ the same as that in Canada.
◦ four times as much as that in Canada.

Question 2

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.





Refer to Figure 33.1. The opportunity cost of producing a bushel of alfalfa in the United States is

◦ half a bushel of soybeans.
◦ 1 bushel of soybeans.
◦ 2 bushels of soybeans.
◦ 300 bushels of soybeans.

[janeli]

Answer 1

half as much as that in Canada.

Answer 2

half a bushel of soybeans.

[Mimi]

Question 1

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.





Refer to Figure 33.1. The opportunity cost of producing a bushel of alfalfa in Canada is

◦ half a bushel of soybeans.
◦ 1 bushel of soybeans.
◦ 2 bushels of soybeans.
◦ zero.

Question 2

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.





Refer to Figure 33.1. The opportunity cost of producing a bushel of soybeans in the United States is

◦ half a bushel of alfalfa.
◦ 1 bushel of alfalfa.
◦ 2 bushels of alfalfa.
◦ 300 bushels of alfalfa.

[kardosa007]

Answer 1

1 bushel of soybeans.

Answer 2

2 bushels of alfalfa.