1. The following table shows the production of cows’ milk and potatoes per unit of input in the hypothetical countries of St. Claire and St. Paul. Use the following table to answer the questions. St. Claire St. Paul Cow’s Milk 100 liters 50 liters Potatoes 150 liters 60 kilos a) Which country has the absolute advantage in the production of cows’ milk? b) Which country has the absolute advantage in the production of potatoes? c) What is the opportunity cost of producing one liter of cows’ milk in St. Claire?

1. The following table shows the production of cows’ milk and potatoes per unit of input in the hypothetical countries of St. Claire and St. Paul. Use the following table to answer the questions. St. Claire St. Paul Cow’s Milk 100 liters 50 liters Potatoes 150 liters 60 kilos a) Which country has the absolute advantage in the production of cows’ milk? b) Which country has the absolute advantage in the production of potatoes? c) What is the opportunity cost of producing one liter of cows’ milk in St. Claire?

Name: 1. The following table shows the production of cows’ milk and potatoes
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Description: 1. The following table shows the production of cows’ milk and potatoes per unit of input in the hypothetical countries of St. Claire and St. Paul. Use the following table to answer the questions. St. ClaireSt. PaulCow’s Milk100 liters50 litersPotatoe

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains Rrom Trade

Section: Chapter Questions

Problem 6PA

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