Suppose that one day of labor in each country produces the following quantities of fish and cheese: 1. Does France have a comparative advantage in the production of fish, cheese, or neither? Explain. 2. Does Japan have a comparative advantage in the production of fish, cheese, or neithter? Explain. 3. Suppose the countries decide to trade with each other—1 ton of cheese for 3 tons of fish. Would this trade be advantageous to both countries? Explain. Country Fish (tons) Cheese (tons) France 80 40 Japan 200 50
Suppose that one day of labor in each country produces the following quantities of fish and cheese: 1. Does France have a comparative advantage in the production of fish, cheese, or neither? Explain. 2. Does Japan have a comparative advantage in the production of fish, cheese, or neithter? Explain. 3. Suppose the countries decide to trade with each other—1 ton of cheese for 3 tons of fish. Would this trade be advantageous to both countries? Explain. Country Fish (tons) Cheese (tons) France 80 40 Japan 200 50
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 30P: In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10...
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Suppose that one day of labor in each country produces the following quantities of fish and cheese:
1. Does France have a comparative advantage in the production of fish, cheese, or neither? Explain.
2. Does Japan have a comparative advantage in the production of fish, cheese, or neithter? Explain.
3. Suppose the countries decide to trade with each other—1 ton of cheese for 3 tons of fish. Would this trade be advantageous to both countries? Explain.
Country | Fish (tons) | Cheese (tons) |
France | 80 | 40 |
Japan | 200 | 50 |
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