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in relation to a countrys
No
explain in detail with example and graph if require
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- In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios. Who has the absolute advantage in the production of rubber or radios? How can you tell? Calculate the opportunity cost of producing 80 additional radios in Japan and in Malaysia. (Your calculation may involve fractions, which is fine,) Which country has a comparative advantage in the production of radios? Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has a comparative advantage in producing rubber? In this example, does each country have an absolute advantage and a comparative advantage in the same good? In what product should Japan specialize? In what product should Malaysia specialize?d Vew Htory Bools OPFRO TOR PM 3. Using the data in the accompanying table, answer the fol- lowing questions: Canoda Italy Points on Production Possibilities Frontier Good X Good Y Good X Good Y A. 150 100 25 60 50 50 120 75 180 a. For which good does Canada have a comparative advantage? b. For which good does Italy have a comparative advantage? c. What might be a set of favorable terms of trade for the two countries? d. Prove that both countries would be better off in the specialization- trade case than in the no-specialization-no-trade case. of two Natons. shift Good XGon OPP cost 0888 888The United States exports corn and aircraft tothe rest of the world, and it imports oil andclothing from the rest of the world. Do youthink this pattern of trade is consistent with theprinciple of comparative advantage? Why orwhy not?
- Food (Comparative Advantage) The consumption possibilities frontiers shown by the blue lines in the following exhibit assume terms of trade of 1 unit of clothing for 1 unit of food. What would the consumption possibilities frontiers look like if the terms of trade were 1 unit of clothing for 2 units of food? Production (and Consumption) Possibility Frontiers with Trade (Millions of Units Per Day) (a) United States (b) Izodia 600 500- 400 600 500 U 400 300 200 U 100 Food 300 200 100 13 0 100 200 300 400 Clothing 0 100 200 300 400 ClothingDeine the international trade. What is its pro and conc. Explain in details.Hello please provide homeowrk help with the following usung the image provided. Thank you.1. What is the opportunity cost of one more unit of Lumber in Country B and who has the comparative advantage in Wheat production? 2. What country has the comparative advantage in Lumber production? 3. What is the acceptable term of trade for which both countries will gain from trade?
- Ricardo Trade 7 Consider the diagram depicting production possibilities in Spain and England. At which of the following rates do both countries NOT gain from trade? England Spain Wine Wine 24 Wool Wool Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer, a 1 wine for 1 wool b 3 wine for 1 wool 1.5 wine for 1 wool d 1 wool for 1.5 wine e .5 wine for .3 woolWhy isn’t trade between two countries like a game inwhich one country wins and the other loses?what are mercentalist view on the trade ?
- Are the following statements true or false? Explain ineach case.a. “Two countries can achieve gains from trade evenif one of the countries has an absolute advantagein the production of all goods.”b. “Certain talented people have a comparativeadvantage in everything they do.”c. “If a certain trade is good for one person, it can’tbe good for the other one.”d. “If a certain trade is good for one person, it isalways good for the other one.”e. “If trade is good for a country, it must be good foreveryone in the countryee-trade benefits Ttion to the positive welfare effects that free trade has on an economy, there are a variety of other benefits of international trade ng scenario: Thout free trade, Sapphira has market power as a local producer. Once free trade is implemented in the local economy, Sapphira ger able to raise its prices above competitive levels. vious scer represents which of the following benefits of free trade? D An enhanced flow of ideas Increased variety of goods Increased competition Lower costs through economies of scale Grade It Now SavQUESTION 18 Consider the following production possibilities frontier for Debbie and Melissa Debble Donuts Donuts Melissa Coffee Coffee Moreover assume that T-266 and W-99 H-297 and Z-39 Assume there is no trade between Debbie and Melissa. Melissa spends 65% of her time producing donuts and Debbie spends the W64 of her time producing donuts What would be the world's production of donuts?