JAMB - Economics (1984 - No. 34)
The international production set for Nigeria and Austria is:
\(\begin{array}{c|c}
Products & Nigeria & Austria \\
\hline
Cocoa & 20 \text{tonnes} & 12 \text{tonnes}\\
\hline
Lace & 10 \text{meters} & 8 \text{meters} \\
\end{array}\)
from the table, it can be deduced that?
\(\begin{array}{c|c}
Products & Nigeria & Austria \\
\hline
Cocoa & 20 \text{tonnes} & 12 \text{tonnes}\\
\hline
Lace & 10 \text{meters} & 8 \text{meters} \\
\end{array}\)
from the table, it can be deduced that?
Nigeria should produce cocoa and lace
Austria should produce cocoa and lace
Nigeria can benefit from producing lace only
Nigeria should not produce any of the products because of her relative disadvantages
Austria should produce lace and Nigeria should produce cocoa
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