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Author Question: Suppose that Greece and Portugal are both engaged in the production of grapes and figs, and that ... (Read 356 times)

rl

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on: Apr 19, 2019

Suppose that Greece and Portugal are both engaged in the production of grapes and figs, and that Greece has an absolute advantage in the production of both goods. If Portugal has a lower opportunity cost for producing figs, then


◦ Portugal has a comparative advantage in the production of figs, but it is outweighed by Portugal's absolute advantage in fig production.
◦ Greece has a comparative advantage in the production of both goods.
◦ Portugal has a comparative advantage in fig production, but there will be no gains from specialization and trade.
◦ Portugal has a comparative advantage in the production of figs, and specialization and trade between the two countries can be mutually beneficial.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by rl on Apr 19, 2019

mcarey591

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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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rl

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

debra928

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Reply 3 on: Yesterday
Excellent

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