Assume both italy and greece produce only two good wine and olive oil haly holds a comparative advantage in the production of wine, then which of the following statements is not true?
a. italy must hold an absolute advantage in the production of wine
b. greece holds a comparative advantage in the production of olive oil
c. italy's opportunity cost of producing one additional wit of wine is lower than greece's.
d. greece's opportunity cost of producing one additional wel of olive oil is lower than italy's.
e. if trade is open between them, the countries have an incentive to trade

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)