Answers
Option B.
- According to the given scenario, it is true that Aliceland has an an absolute advantage, but not comparative advantage in producing food.
- A person is said to have an absolute advantage if he or she is able to produce more amount of a good or a service than another entity by using the same amount of resources.
- Here Aliceland is able to produce 32 units of good per person per year while Georgeland is able to produce only 16 units of food per person per year.
- We cannot use comparative advantage here, as we do not know how efficiently each of them are producing food and clothing and also their oppertunity costs of producing them are not provided.
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