Japan can use all of its resources to produce 100 videos or 400 shoes. China can use all of its resources to produce 25 videos or 200 shoes. Which nation has the comparative advantage in shoes and which nation has the comparative advantage in videos?

Q: n Germany it takes three workers to make one television and four workers to make one video camera.…

A: TV Video game Germany 3 4  Poland 6 12

Q: Bahrain and Bhutan each have 10,000 hours of labor per month. In Bahrain,producing one pound coffee…

A: International trade refers to the import and export of goods and services among different countries…

Q: tea Candonia has a comparative advantage in the production of while Sylvania has a comparative…

A: Opportunity cost refers to the next best alternative forgone

Q: American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons…

A: A country has comparative advantage in production of a commodity if it can produce the commodity at…

Q: Using the following data, decide which country has comparative advantage for which good:   good x…

A: Theory of comparative advantage was given by David Ricardo. According to David Ricardo gains from…

Q: Country X Country Y Phones Television sets a) Fill in the table to show that country x has an…

A: Absolute advantage is the ability for producing a good using fewer inputs while comparative…

Q: If the state of Texas has a lower opportunity cost for producing beef compared to Alaska, then...…

A: Absolute advantage and comparative advantage are two important concepts in international trade.…

Q: has an absolute advantage in the production of barley, and has an absolute advantage in the…

A: Absolute advantage implies that producer can produce a particular good or service in higher quantity…

Q: Question 25 Please refer to Maxine's & Daisy's PPFs Who has a comparative advantage in pies? Group…

A:

Q: Assume that our world consists of only two countries: the United States and the Rest of the World…

A: US opportunity cost of producing 1 computer and in US can be calculated as follows: Thus, the…

Q: Nation A's production Nation B's production in 1 day Computers in 1 day Computers |Software 100 120…

A:

Q: The table below shows how many millions of cars and trucks each country can produce in one year.…

A: Comparative-Advantage(CA) theory states that the country with the lowest Opportunity-Cost(OC) on…

Q: (d) Which country has the comparative advantage in food? In fuel? Explain. (e) Which good(s) should…

A: (d)   According to Ricardian Theory, international trade is beneficial not only if the two countries…

Q: Jimmy and Robert are stranded on a deserted island.  Robert can catch 10 fish in a day or pick 15…

A: Comparative advantage refers to the production of a good with the least opportunity relative to…

Q: Sonya takes 5 minures to iron a shirt and 10 minutes to type a paper. Grace takes 5 minutes to iron…

A: The opportunity cost is the cost of the next best alternative when the good is put to the…

Q: We can conclude that Morocco has a comparative advantage in the production of tables. [True or…

A: Comparative advantage refers to the ability of a country or an individual to produce the good at a…

Q: Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523…

A: According to Ricardian Theory, international trade is beneficial not only if the two countries have…

Q: Japan, one worker can make 5 tons of rubber or 30 radios. In Malaysia, one worker can make 4 tons of…

A: An absolute advantage refers to the competitive advantage of a firm when it is able to produce more…

Q: Zambia Germany Pair of Shoes per worker Barrel of wines per worker 8. 3 Use the information above to…

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…

Q: If Bishan wants to capitalize on comparative advantage in his life, then he should: -compare his…

A: Theory of comparative advantage is based on opportunity cost in choosing between different options…

Q: Pat and Kris are roommates.  making pizza and brewing root beer. Pat takes 4 hours to brew a gallon…

A: Opportunity cost is the value of next best activity forgone. For example, say, a student has 2 hours…

Q: The following table shows the production of cows’ milk and potatoes per unit of input in the…

A: The given data is for maximum production of two goods for two different countries using it we can…

Q: Which country has the comparative advantage in production of Good A?

A: David Ricardo propounded the theory of comparative cost advantage. He has given detailed it in his…

Q: England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 40…

A: Absolute advantage is the benefit a country has in producing a good more efficiently than other…

Q: Using the information provided in the table below, answer the following questions.   Country A…

A: A country is said to have comparative advantage in the production of a good if it can produce the…

Q: Labour hours needed to make 1 unit Cars Airplanes Amount producedin 24 hours: Airplanes Cars Canada…

A: Comparative advantage is theory which tells about that a country should export that goods and…

Q: Which country has the comparative advantage in production of Good A? Group of answer choices…

A: International trade occurs on the basis of comparative advantage that represents the ability of a…

Q: If nick and Jesse specialize according to comparative advantage and produce efficiently they can…

A: To Know the comparative advantage each have on products, the opportunity cost of each person for…

Q: American worker takes 20 hours to produce one computer and 300 hours to produce an RV. A Japanese…

A: A American worker takes 20 hours to produce one computer and 300 hours to produce an RV A Japanese…

Q: Two countries, Canada and Mexico, produce only two goods: skis and sombreros. The table gives their…

A: We have given production possibility schedules for Canada and Mexico country.  According to the law…

Q: Using the data presented in the table below answer the followings: a) which country has comparative…

A: "If a country has a comparative advantage in producing one commodity then it means that country can…

Q: Discuss the opportunity cost you incur for some activity in your life. Additionally, what activity…

A: Opportunity cost(OC) refers to the value of something when a specification is chosen. It is the cost…

Q: Brazil is able to produce 10 cars and 5 computers in one hour while India is able to produce 1 car…

A: Comparative advantage refers that it is a tool which is used for calculate the optimal use of two…

Q: iv. Which country has the Comparative advantage in chairs? v. If each country has 10 workers who can…

A: Absolute advantage is the ability to produce a good using fewer inputs than another producer, while…

Q: If Larry can produce more donuts in a day than Sue can produce in one day, then Select one: a.Larry…

A: When a good (donuts) can be produced in a larger quantity by person A than person B, given the same…

Q: Use the information in the table below to answer the following questions. Production per unit of…

A: Hi! thank you for the question but as per the guidelines, we answer up to 3 sub-parts at one time.…

Q: With a given amount of labor and other resources, producers in the nation of Germany can produce…

A: Opportunity cost of producing sedans in germany=SUV sacrificedSedan producedOpportunity cost of…

Q: Bill and Fred bake cakes and pies.  Bill's opportunity cost of baking 1 pie is 3 cakes.  Fred's…

A: Bill's opportunity cost of baking 1 pie is 3 cakes.  Fred's opportunity cost of baking 1 pie is 5…

Q: In one hour, Sue can produce 70 caps or 21 jackets and Tessa can produce 50 caps or 25 jackets. Who…

A: Opportunity cost is the benefit lost while making a different decision. You must compare the…

Q: In Exhibit 1, the United States has a comparative advantage in producing:   Group of answer choices…

A: Comparative advantage is having produce a good or service with lower opportunity than another…

Q: There are 100 workers in Pakistan, and each worker can produce either 10 shirts or 2 hats. There are…

A: The production-possibility curve in economics is a model that measures production efficiency based…

Q: Table shows the number of hours of labor required to produce 1 unit of output of computers and wheat…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: Use the table below to answer the questions concerning absolute and comparative advantages.…

A: A market is a place where the buyers and sellers in the economy interact with each other and the…