10) PPFS for Countries X and Y 300 Y 200 400 tons of rice a). In the graph above, what is the opportunity cost of producing a ton of wheat for each country? b) In the graph above, which country has a comparative advantage in producing wheat?| c) In the graph above, if both countries specialize in producing the good in which they have a comparative advantage, together how much will they produce of each good? Countries X and Y will produce 200 tons of rice for 100 tons of wheat tons of wheat

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter3: Interdependence And The Gains From Trade
Section: Chapter Questions
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10)
PPFS for Countries X and Y
300
Y
200
400
tons of rice
a). In the graph above, what is the opportunity cost of producing a ton of wheat for each
country?
b) In the graph above, which country has a comparative advantage in producing wheat?
c) In the graph above, if both countries specialize in producing the good in which they
have a comparative advantage, together how much will they produce of each good?
Countries X and Y will produce 200 tons
rice for 100 tons of wheat
tons of wheat
Transcribed Image Text:10) PPFS for Countries X and Y 300 Y 200 400 tons of rice a). In the graph above, what is the opportunity cost of producing a ton of wheat for each country? b) In the graph above, which country has a comparative advantage in producing wheat? c) In the graph above, if both countries specialize in producing the good in which they have a comparative advantage, together how much will they produce of each good? Countries X and Y will produce 200 tons rice for 100 tons of wheat tons of wheat
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