North Carolina produces sweet potatoes in its rich soil, but does not have the climate to grow oranges well. It is correct to sa

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North Carolina produces sweet potatoes in its rich soil, but does not have the climate to grow oranges well. It is correct to sa

y that North Carolina has a _________sweet potato production relative to Florida. a. free trade agreement with b. trade imbalance with c. comparative advantage in d. monopoly on

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1 answer:

inessss [21] · Answer 1 · 2023-03-23T01:35:31+03:00

Answer:

c. comparative advantage in

Explanation:

In economics, comparative advantage is the advantage a trade party has over the other party, in the production of a a particular good that has a relatively lower opportunity cost. It simply involves exploring the option that has overall best package.

North Carolina has a comparative advantage in sweet potato production relative to Florida, as the opportunity cost involved is lower, since there is little potential benefits North Carolina will get in the production of oranges.