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We are going to use apply these terms to an example about Soybean production. Assume that the United States produces large amounts of soybeans each year. However, Brazil is also willing and able to produce 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 opportunity cost of producing Soybeans Calculate the per unit Soybeans opportunity cost of producing Sugar Sugar United States 108 tons 20 tons Brazil 86 tons 10 tons 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. 4. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)?

We are going to use apply these terms to an example about Soybean production. Assume that the United States produces large amounts of soybeans each year. However, Brazil is also willing and able to produce 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 opportunity cost of producing Soybeans Calculate the per unit Soybeans opportunity cost of producing Sugar Sugar United States 108 tons 20 tons Brazil 86 tons 10 tons 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. 4. Who has the comparative advantage in producing sugar? Why (use data from the chart to explain your answer)?

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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I need help with the chart and the first to two questions.
My what you are prodUCng- We are going to use apply these terms to an example about Soybean production. Assume that the United States produces large amounts of soybeans each year. However, Brazil is also willing and able to produce 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 opportunity cost of producing Soybeans Calculate the per unit opportunity cost of producing Sugar Soybeans Sugar United States Brazil 108 tons 20 tons 86 tons 10 tons 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)?
Transcribed Image Text:My what you are prodUCng- We are going to use apply these terms to an example about Soybean production. Assume that the United States produces large amounts of soybeans each year. However, Brazil is also willing and able to produce 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 opportunity cost of producing Soybeans Calculate the per unit opportunity cost of producing Sugar Soybeans Sugar United States Brazil 108 tons 20 tons 86 tons 10 tons 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)?
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