A company can produce either 200 units of product A or 400 units of product B. What is the opportunity cost of producing one unit of product A?

If Country X has an opportunity cost of 3 units of cloth for 1 unit of wine, and Country Y has an opportunity cost of 5 units of cloth for 1 unit of wine, which country has the comparative advantage in wine production?

If Country A can produce 10 tons of steel using the same resources that Country B uses to produce 8 tons, which country has the absolute advantage in steel production?

If Country A has an absolute advantage in both wheat and corn production, but Country B has a comparative advantage in corn, how can both countries benefit from trade?

Why does comparative advantage lead to gains from trade?

Which statement correctly differentiates absolute advantage from comparative advantage?

What is specialization in the context of production?

Which of the following is a result of specialization in production?

If Country A has an opportunity cost of 4 units of rice for 1 unit of oil, and Country B has an opportunity cost of 6 units of rice for 1 unit of oil, which country has the comparative advantage in oil production?

What is the primary benefit of specialization in production?