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Author Question: Refer to Table 7-4. a. Which country has an absolute advantage in the production of both light ... (Read 75 times)

Lobcity

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on: Jun 29, 2018
Refer to Table 7-4.
 
  a. Which country has an absolute advantage in the production of both light bulbs and flash drives?
  b. Which country has a comparative advantage in the production of light bulbs?
  c. Which country has a comparative advantage in the production of flash drives?

Question 2

Refer to Table 7-4. Fill in the following table with the opportunity costs of producing light bulbs and flash drives for Mexico and Canada.
 
   Light Bulbs Flash Drives
  Mexico
  Canada
 
  What will be an ideal response?


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Bigfoot1984

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a. Neither country has an absolute advantage in the production of both products.
b. Mexico has a comparative advantage in the production of light bulbs.
c. Canada has a comparative advantage in the production of flash drives.

Answer to Question 2

Light Bulbs Flash Drives
Mexico 0.25 4
Canada 4 0.25


Lobcity

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

lcapri7

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Reply 3 on: Yesterday
Excellent

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