Consider two economies, Beta and Zeta. Each farmer in Beta can grow 1.000 pounds of apples in a year or 500 pounds of oranges. Each farmer in Zeta can grow 400 pounds of apples or 1,200 pounds of oranges in a year.

O Refer to the scenario above. Which of the following statements is true?
O Zeta has an absolute advantage in producing both oranges and apples.
O Beta has a comparative advantage in producing both oranges and apples.
O Beța and Zeta will suffer losses if they engage in foreign trade.
O Zeta should specialize in producing oranges and Beta should specialize in producing apples.

Question

12-06-2024
Business

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Consider two economies, Beta and Zeta. Each farmer in Beta can grow 1.000 pounds of apples in a year or 500 pounds of oranges. Each farmer in Zeta can grow 400 pounds of apples or 1,200 pounds of oranges in a year.

O Refer to the scenario above. Which of the following statements is true?
O Zeta has an absolute advantage in producing both oranges and apples.
O Beta has a comparative advantage in producing both oranges and apples.
O Beța and Zeta will suffer losses if they engage in foreign trade.
O Zeta should specialize in producing oranges and Beta should specialize in producing apples.

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