11 A trader has an absolute advantage in orange production if his unit-labor requirement in oranges is _____ and his labor productivity is _____ A. lower; higher

11 A trader has an absolute advantage in orange production if his unit-labor requirement in oranges is _ and his labor productivity is _ A. lower; higher

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 1PA

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Concept explainers

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

Question

A trader has an absolute advantage in orange production if his unit-labor requirement in oranges is _____ and his labor productivity is _____

A. lower; higher

B. higher; lower

C. lower; lower

D. higher; higher

E. moderate; moderate

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