What is the opportunity cost of producing shoes in Mexico if it takes 10 workers to make one pair of shoes and 12 workers to make one pair of glasses The same for Nigeria if it takes 18 workers to make 1 pair of shoes and 5 workers for 1 pair of glasses 1. What is the opportunity cost of producing Shoes in Mexico?Glasses2. What is the opportunity cost of producing Glasses in Mexico?Shoes3. What is the opportunity cost of producing Shoes in Nigeria?Glasses4. What is the opportunity cost of producing Glasses in Nigeria?Shoes5. Which country has an absolute advantage in producing Shoes?6. Which country has an absolute advantage in producing Glasses?7. Which country has a comparative advantage in producing Glasses?8. Which country has a comparative advantage in producing Shoes?9. Which country should be specializing in the production of Glasses?10. Which country should be specializing in the production of Shoes?11. Which country should be exporting Shoes?12. Which country should be exporting Glasses?Q Search33BE8PREFB8LWC-Eprt schomeSAM SAM y Informal sp

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Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 2SCQ: Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40...

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In France it takes one worker to produce one sweater, and one worker to produce one bottle of wine. In Tunisia it takes two workers to produce one sweater, and three workers to produce one bottle of wine. Who has the absolute advantage in production of sweaters? Who has the absolute advantage in the production of wine? How can you tell?
In Germany it takes three workers to make one television and four workers to make one video camera. In Poland It takes six workers to make one television and 12 workers to make one video camera. Who has the absolute advantage in the production of televisions? Who has the absolute advantage in the production of video cameras? How can you tell? Calculate the opportunity cost of producing one additional television set in Germany and In Poland. (Your calculation may involve fractions, which Is tine.) Which country has a comparative advantage in the production of televisions? Calculate the opportunity cost of producing one video camera in Germany and in Poland. Which country has a comparative advantage in the production of video cameras? In this example, is absolute advantage the same as comparative advantage, or not? In what product should Germany specialize? In what product should Poland specialize?
In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios. Who has the absolute advantage in the production of rubber or radios? How can you tell? Calculate the opportunity cost of producing 80 additional radios in Japan and in Malaysia. (Your calculation may involve fractions, which is fine,) Which country has a comparative advantage in the production of radios? Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has a comparative advantage in producing rubber? In this example, does each country have an absolute advantage and a comparative advantage in the same good? In what product should Japan specialize? In what product should Malaysia specialize?

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1. What is the opportunity cost of producing Shoes in Mexico? Glasses 2. What is the opportunity cost of producing Glasses in Mexico? Shoes 3. What is the opportunity cost of producing Shoes in Nigeria? Glasses