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Corinthia and Berylia both produce 5 million watches in a year. The opportunity cost of producing ...

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Corinthia and Berylia both produce 5 million watches in a year. The opportunity cost of producing ...

Corinthia and Berylia both produce 5 million watches in a year. The opportunity cost of producing one watch is 2 shirts in Corinthia, while the opportunity cost of producing one watch is 3 shirts in Berylia. Which of the following statements is TRUE in this case?

▸ Corinthia has an absolute advantage in producing watches.

▸ Berylia has a comparative advantage in producing watches.

▸ Berylia has an absolute advantage in producing watches.

▸ Corinthia has a comparative advantage in producing watches.

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Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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