Question

The table compares two countries and two products. a 4-column table has 2 rows. the first column is labeled country with entries country a, country b. the second column is labeled cost (units) with entries 1, 1. the third column is labeled petroleum (units) with entries 16, 8. the fourth column is labeled seafood (units) with entries 8, 8. what might be the best decision for country a? focus both on its petroleum and seafood industries focus on the seafood industry only focus on the petroleum industry only decide to find another industry to focus on

Answer 1

The country 'a' should only focus on the petroleum industry because the lower production cost option third is the right decision.

It is given that the table compares two countries and two products.

It is required to select the best decision for 'country a'

What are comparative advantages?

It is defined as the capacity to make a profit at a low cost for any service and goods known as comparative advantages.

We have two counties a and b and they produce the same amount of seafood which is 8 units and the cost in units for both countries are the same the only thing which is different is the production of petroleum in the country production petroleum is 16 units and in-country b the production of petroleum is 8 units which are 8 units less than the country a.

It means country a produces more petroleum at a lower cost than country b.

Thus, the country 'a' should only focus on the petroleum industry because the lower production cost option third is the right decision.

Learn more about the comparative advantages here:

https://brainly.com/question/7045530

Answer 2

Answer:

C) focus on the petroleum industry only