Question

The following table shows the supply and demand schedules for computers in Sweden and Norway.

Price	Sweden		Price	Norway
(Dollars)	Quantity Supplied	Quantity Demanded	(Dollars)	Quantity Supplied	Quantity Demanded
0	0	1,200	0		1,800
5	200	1,000	5		1,600
10	400	800	10		1,400
15	600	600	15	0	1,200
20	800	400	20	200	1,000
25	1,000	200	25	400	800
30	1,200	0	30	600	600
35	1,400		35	800	400
40	1,600		40	1,000	200
45	1,800		45	1,200	0

On a graph, use blue points (circle symbol) and orange points (square symbol) to plot Sweden’s demand and supply curves, respectively.

On a differnt graph, use blue points (circle symbol) and orange points (square symbol) to plot Norway’s demand and supply curves, respectively.

In the absence of trade, the equilibrium price of computers produced in Sweden is , and the equilibrium quantity is computers. In Norway, the equilibrium price of computers is , and the equilibrium quantity is computers. Thus, has a comparative advantage in computers.

Answer 1

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