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kaleb kidane
on Oct 26, 2024

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If the opportunity cost of manufacturing machinery is higher in the United States than in Britain and the opportunity cost of manufacturing sweaters is lower in the United States than in Britain,then the United States will:

A) export both sweaters and machinery to Britain.
B) import both sweaters and machinery from Britain.
C) export sweaters to Britain and import machinery from Britain.
D) import sweaters from Britain and export machinery to Britain.

Opportunity Cost

Opportunity cost is the value of the best alternative foregone when a decision is made to pursue a particular action or resource allocation.

Machinery

Machines or machine systems collectively, which are used in a variety of industries to produce or facilitate the production of goods.

Sweaters

Garments intended to cover the upper body and arms, typically knitted from wool, cotton, or synthetic fibers.

  • Ascertain the merits of specialization and commerce in a dual-party system.
  • Acknowledge the contribution of opportunity costs to identifying comparative advantages.
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Mokaddes HossainOct 26, 2024
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