Suppose that France and Germany both produce wine and schnitzel. Thne table below snows combinations of the goods that each country can produce in a day. France Germany Wine (Bottles) Schnitzel (Pounds) Wine (Bottles) Schnitzel (Pounds) 8 1 6 1 2 2 4 2 3 4 4 Who has the comparative advantage in producing wine and who has the comparative advantage in producing schnitzel? O A. Germany has a comparative advantage producing wine and schnitzel. O B. France has a comparative advantage producing schnitzel and Germany has a comparative advantage producing wine. OC. France has a comparative advantage producing wine and Germany has a comparative advantage producing schnitzel. O D. France has a comparative advantage producing wine and schnitzel. O E. Neither has a comparative advantage producing wine or schnitzel. 529630

Q: Suppose that France and Germany both produce wine and schnitzel. The table below shows combinations…

A: A market is a place where the buyers and the sellers interacts with each other and the exchange of…

Q: Assume that Japan and Korea çan switch between producing cars and producing aeroplanes at a constant…

A: PART 1 Answer: (A) The opportunity cost of building one airplane is 80/16 = 5 cars for Japan and…

Q: Corn Soya Beans hina 16 4 Mexico 4 20 eferring to the table above, which country has the absolute…

A: China Mexico Corn 16 4 Soya Beans 4 20

Q: When a country has a comparative advantage in the production of a good, it means that it can produce…

A: Hey champ,Welcome to this platform. Here you will get the answer with better quality in minimum…

Q: N. Draw a new curve, on the same graph, reflecting what the PPC might look like if new production…

A: Answer: (A).  The graph of PPF is given below: According to the above graph, the x-axis measures…

Q: 2. An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee…

A: ABSOLUTE ADVANTAGE : This concept was given by Adam Smith which compares the absolute efficiency…

Q: Question 5 (Table) Based on the table, who has a comparative advantage in making steel? Hint:…

A: Production possibility curve is the locus of production of a different bundle of production at the…

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

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

Q: For each hour worked, a U.S. worker can produce 4 dozen baguettes, or 2 tonnes of aluminum. Canadian…

A: Comparative advantage refers to a situation where one country or person produces the good at a lower…

Q: a comparative advantage in growing tomatoes if om's marginal benefit from tomatoes is greater than…

A: Tom and Debra are the only people in an isolated village who grow tomato and lettuce.  Comparative…

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

A: The potential benefits that a person, investor, or company loses out on by choosing one option over…

Q: England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50…

A: In any economy, the resources are scarce while the wants are unlimited. So, a choice must be made…

Q: The table represents the labor hours needed to make a bottle of wine or a pound of cheese in the…

A: When a nation is in a position to produce one commodity with an opportunity cost that is lesser than…

Q: (a) Define the following terms: (1) Absolute advantage; (2) Comparative advantage. Consider the…

A: Absolute advantage refers to the ability to produce more goods using same resources or same quantity…

Q: Argentina can produce 150 pounds of beef or 20 cars; in contrast the United States can produ pounds…

A: Every decision involves an opportunity cost. In order to consume more of one good, the other has to…

Q: 06. If Portugal has a total of 180 man-hours of resources available for production, while England…

A: Portugal:Opportunity cost of producing wine=3090=13Opportunity cost of producing cloth=9030=3

Q: Suppose that the world economy consists of Country A and Country B, both of which are of similar…

A: A country is said to have a competitive advantage if it can produce the good at a lower opportunity…

Q: only good e). 1. Draw a diagram to show an aggregate production possibility frontier without trade…

A: First we have to draw a diagram and explanations. Ans 1.

Q: The following table shows the total production that can be produced by two countries at 100 workers.…

A: Absolute advantage, when a country can produce more of a good than others using the same amount of…

Q: In theory of comparative advantage, which statement is correct O a a country should produce all…

A: The theory of comparative advantage in international trade is given by David Recardo.

Q: When a country has a comparative advantage in the production of a good, it means that it can produce…

A: The production possibility curve shows the combination of two goods a country can produce by using…

Q: Determine which country has a comparative advantage in each good . b) If Country A and Country B…

A: Unit labor Requirements   Country A Country B Steel 4 4 Oil 2 5

Q: 3. Absolute and comparative advantage Consider two neighboring island countries, Charisma and…

A: Absolute advantage refers to the competitive advantage of a firm when it has the ability to produce…

Q: c) Who has an absolute advantage in the refuelling the car and replacing a tire? Based from the…

A: Refuel (R) Tire Change (T) B1 4 sec ( 1 R costs 2 T) 2 sec (1 T costs 0.5 R) B2 6 Sec (1 R…

Q: Refer to the accompanying production possibilities tables. Data are in millions of units. Suppose…

A: From the table it has to be found which country has a comparative advantage(CA) in which good, which…

Q: Lawns Mowed Gardens Cultivated George (В 10 B 5 D Jack Table 2-5 shows the output per day of two…

A: Given  In one day, George can cultivate 5 gardens or move 10 lawns. Whereas Jack can cultivate 4…

Q: 4. Specialization and trade When a country has a comparative advantage in the production of a good,…

A: The ability of an economy to produce a specific good or service at a lower opportunity cost than its…

Q: Suppose that France and Germany both produce wine and schnitzel. The table below shows combinations…

A: Answer: Note: From the first part (which is correct) it is clear that France has a comparative…

Q: When a country has a comparative advantage in the production of a good, it means that it can produce…

A: International trade is that the exchange of products and services between countries. mercantilism…

Q: 56 56 48 48 PPF 40 40 32 32 24 PPF 24 16 16 - -- -- -- - 8 16 24 32 40 48 56 64 16 24 32 40 48 56 64…

A: Opportunity cost refers to the loss due to giving up the best alternative in making a decision.

Q: Assume that England and Spain can switch between producing cheese and producing bread at a constant…

A: A country or a person has a comparative advantage in the good which it produces at a lower…

Q: Suppose that two countries have the following production possibilities: Smartphones Refrigerators…

A: A country has an absolute advantage in production of that good that it can produce in a larger…

Q: (B) Sara can produce 50 bags or 500 apple juices in an hour, John can produce 150 bags or 250 apple…

A: Comparative advantage means a country or firm able to produce a commodity At a lower opportunity…

Q: Because of this comparative advantage, both countries benefit when they speciallze and trade with…

A: If we tabulate the given graph then we get    Lemons (millions of pounds) Coffee (millions of…

Q: 3. Are the following statements true or false? Explain in each case. (a) "Two countries can achieve…

A: Trade: Exchange includes exchanging products or administrations starting with one individual or…

Q: Suppose that France and Germany both produce wine and cheese. The table below shows combinations of…

A: As per given information, Production level   Wine Cheese Germany 5 25 France 4 16…

Q: and trade. Maximum of 2 sentences. c) Who has an absolute advantage in the refuelling the car and…

A: * ANSWER :-

Q: Suppose that Austria and Belgium have the unit labor requirements for producing steel and brooms…

A: The free trade refers to the free movement of goods and services from one country to other country.…

Q: Suppose that in the United States, the opportunity cost of producing a motor engine is 4 auto…

A: Opportunity cost is the value of what you lose while picking somewhere between two decisions. Right…

Q: Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier soydeans 20…

A: It can be seen clearly that chille has a comparative advantage in the production of soybeans while…

Q: 8. An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: A) Which producer has the comparative advantage in producing puzzles? Geppetto or Lewis B) Which…

A: An economic agent is said to have a comparative advantage in the production of a good or service if…

Q: The price of trade ppose that Italy and Switzerland both produce jeans and stained glass. Italy's…

A: Opportunity cost refers to the loss incurred for giving up the next best alternative while making a…

Q: In one month, Manal can knit 2 sweaters or 4 scarves. In one month, Tamara can knit 1 sweater or 3…

A: Here, it is given that, Manal can knit 4 scarves or 2 sweater in a month, and Tamara can knit 3…

Q: comparing the opportunity cost of producing stained glass in the two countries, you can tell that…

A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity…

Q: 6. A) With the following data decide which country has comparative advantage for which good. Show…

A: Comparative advantage is the ability of a country to produce a good at lower opportunity cost as…

Q: 4. Specialization and trade When a country has a comparative advantage in the production of a good,…

A: If we tabulate the given information, then we get    Grain (millions of pound) Sugar (millions of…

Q: New Zealand in one year can raise 75 tons of beef or produce 750 boxes of tulips. In the same…

A: Answer: Given,   Beef (tons) Tulips (boxes) New Zealand 75 750 Belgium 40 650 Let us first…