7. John and Ethan both work eight hours a day. In one day, John can make 4 cakes or 8 ice cream,
whereas Ethan can make 2 cakes or 5 ice cream. Given this, which statement(s) is (are) correct?
(i) Ethan has a lower opportunity cost in producing ice cream than John.
(ii) John has an absolute advantage in producing both goods.
(iii) It is not beneficial for John to trade with Ethan.
(A) (i) and (ii)
(B) (i) and (ii)
(C) (ii) and (ii)
(D)(i),(ii), and (iii)
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