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Author Question: Japan and China can both produce guns and rice. The country with the lowest opportunity cost of guns ... (Read 78 times)

Shelles

  • Hero Member
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  • Posts: 582
on: Jun 30, 2018
Japan and China can both produce guns and rice. The country with the lowest opportunity cost of guns (in terms of rice) will
 a. import guns.
 b. have a comparative advantage in guns.
  c. have an absolute advantage in guns.
 d. have a comparative advantage in rice.

Question 2

Under a system of transferable pollution rights, which of the following firms is most likely to purchase a 500 permit to emit a ton of pollutants in to the atmosphere?
 a. a non-polluting firm
 b. a polluting firm that can reduce emissions at a cost of 500 per ton
  c. a polluting firm that can reduce emissions at a cost of 200 per ton
  d. a polluting firm that can reduce emissions at a cost of 600 per ton


vkodali

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  • Posts: 357
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


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