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Author Question: Suppose that Argentina and Chile are both engaged in the production of copper and wheat, and that ... (Read 116 times)

mpobi80

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on: Apr 19, 2019

Question 1

If the slopes of the production possibility frontiers involving sugar and rice in countries A and B are equal


◦ the opportunity cost of producing sugar is less in Country A.
◦ the opportunity cost of producing rice is less in Country B.
◦ specialization does not benefit either country.
◦ each country will produce identical quantities of sugar and rice.

Question 2

Suppose that Argentina and Chile are both engaged in the production of copper and wheat, and that Argentina has an absolute advantage in the production of both goods. If Chile has a comparative advantage in the production of copper, then Chile


◦ has a lower opportunity cost for copper, which means that it should specialize in production of copper and engage in trade.
◦ has a lower opportunity cost for producing copper, but specialization is not feasible because Argentina has a lower monetary cost of copper production.
◦ has a higher opportunity cost for copper, which means it should specialize in the production of wheat and engage in trade.
◦ should continue to produce copper, but only for domestic consumption, because trade is not a viable option.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by mpobi80 on Apr 19, 2019

tranoy

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mpobi80

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Reply #2 on: Apr 19, 2019
Thank you!


tranoy

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Reply #3 on: Apr 19, 2019
Always glad to help...


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