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Directions: Calculate the per unit opportunity cost for soybeans and sugar in the United States and Brazil and then use that information to answer the questions that follow. Calculate the per unit opportunity cost of producing Soybeans Calculate the per unit opportunity cost of producing Sugar 5.4 Soybeans Sugar United States 108 tons 0.18 20 tons Brazil 86 tons 0.11 10 tons 8.6 2 Who has the absolute advantage in producing soybeans? Why? 3 Who has the comparative advantage in producing soybEans? Why (use data from the chart to exxplain your answer)? 4. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)?

Directions: Calculate the per unit opportunity cost for soybeans and sugar in the United States and Brazil and then use that information to answer the questions that follow. Calculate the per unit opportunity cost of producing Soybeans Calculate the per unit opportunity cost of producing Sugar 5.4 Soybeans Sugar United States 108 tons 0.18 20 tons Brazil 86 tons 0.11 10 tons 8.6 2 Who has the absolute advantage in producing soybeans? Why? 3 Who has the comparative advantage in producing soybEans? Why (use data from the chart to exxplain your answer)? 4. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)?

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
Section: Chapter Questions
Problem 10CQ
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soybeans. Directions: Calculate the per unit opportunity cost for soybeans and sugar in the United States and Brazil and then use that information to answer the questions that follow. Calculate the per unit Calculate the per unit Sugar opportunity cost of producing Sugar 54 Soybeans opportunity cost of producing Soybeans 0.18 United States 108 tons 20 tons Brazil 86 tons 0.11 10 tons 8.6 2 Who has the absolute advantage in producing soybeans? Why? Who has the comparative advantage in producing soybeans? Why (use data from the chart to explain your answer)? 3. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)? 4. 5. Would the United States benefit from a trade? Why or why not (use data from the chart to explain your answer)? 6. What would need to happen for Brazil to benefit from the trade?
Transcribed Image Text:soybeans. Directions: Calculate the per unit opportunity cost for soybeans and sugar in the United States and Brazil and then use that information to answer the questions that follow. Calculate the per unit Calculate the per unit Sugar opportunity cost of producing Sugar 54 Soybeans opportunity cost of producing Soybeans 0.18 United States 108 tons 20 tons Brazil 86 tons 0.11 10 tons 8.6 2 Who has the absolute advantage in producing soybeans? Why? Who has the comparative advantage in producing soybeans? Why (use data from the chart to explain your answer)? 3. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)? 4. 5. Would the United States benefit from a trade? Why or why not (use data from the chart to explain your answer)? 6. What would need to happen for Brazil to benefit from the trade?
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