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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 infomation 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 explain your answer)? 4. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)? 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?

Directions: Calculate the per unit opportunity cost for soybeans and sugar in the United States and Brazil and then use that infomation 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 explain your answer)? 4. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)? 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?

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 4SCQ: Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the...
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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 infommation to answer the questions that follow. Calculate the per unit opportunity cost of producing Sugar 54 Calculate the per unit Soybeans opportunity cost of producing Soybeans 0.18 Sugar 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 infommation to answer the questions that follow. Calculate the per unit opportunity cost of producing Sugar 54 Calculate the per unit Soybeans opportunity cost of producing Soybeans 0.18 Sugar 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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