Homework Answers
Since USA can produce more soybean than Mexico can (30 > 15), USA has absolute advantage in soybean.
Since USA can produce more avocado than Mexico can (90 > 60), USA has absolute advantage in avocado.
(1) Opportunity cost (OC) as follows.
| USA | Mexico | |
| Soybean | 90/30 = 3 avocado | 60/15 = 4 avocado |
| Avocado | 30/90 = 0.33 soybean | 15/60 = 0.25 soybean |
(2)
Since USA can produce soybean at lower OC than Mexico can (3 < 4), USA has comparative advantage in soybean.
Since Mexico can produce avocado at lower OC than USA can (0.25 < 0.33), Mexico has comparative advantage in avocado.
Add Answer to:
Soybeans USA Mexico 90 Avocados 1. Based on the above PPFs for the United States and...
Question 4 (4 points) In a single year, the US can produce 30 soybeans or 150...
Question 4 (4 points) In a single year, the US can produce 30 soybeans or 150 avocados. Mexico can produce 15 soybeans or 60 avocados. Suppose Mexico experiences a technological advancement that allows Mexico to produce 90 units of avocados. 1) With the technological advancement, what is the opportunity cost of producing 1 soybean in terms of avocados for Mexico? (Only put numbers) 2) With the technological advancement, what is the opportunity cost of producing 1 avocado in terms of...
Blank # 1 AV US Blank # 2 US Question 2 (6 points) Saved In a...
Blank # 1 AV US Blank # 2 US Question 2 (6 points) Saved In a single year, the US can produce 30 soybeans or 150 avocados. Mexico can produce 15 soybear 60 avocados. READ THE QUESTIONS CAREFULLY 1) What is the opportunity cost of producing 1 soybean in terms of avocados for the US? (Only put numbers) 2) What is the opportunity cost of producing 1 avocado in terms of soybeans for the US? (Only put ntumbers and write...
5 and 6 please Chapter 3&18 Intl Trade, Comparative Advantage Mexico PPC Product ABCDE Avocados Soybeans...
5 and 6 please
Chapter 3&18 Intl Trade, Comparative Advantage Mexico PPC Product ABCDE Avocados Soybeans 0 20 24 40 60 1510 9 5 0 U.S. PPC Product RSTUV Avocados 0 30 33 60 90 Soybeans 30 20 1910 O Comparative Advantage Questions 1.A What is Mexico's opportunity cost for producing Avocados? 1.B What is Mexico's opportunity cost for producing Soybeans? 2.A What is the U.S.'s opportunity cost for producing Avocados? 2.B What is the U.S's opportunity cost for producing...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day)...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day) Cloth 10 (tons per day) Prus. 0 20 0 0 40 60 80 100 Wheat (tons per day) 0 0 0 100 Wheat (tons per day) Use the Production Possibilities Curves for U.S. and Mexico to determine i. In what commodity do United States has a comparative advantage over Mexico? il. In what commodity do Mexico has a comparative advantage over United States? iii....
suppose the united states is currently producing 200 tons of hamburgers and 90 tons of tacos mexico is cutrently produc...
suppose the united states is currently producing 200 tons of
hamburgers and 90 tons of tacos mexico is cutrently producing 20
tons of hamburgers and 50 tons of tacoes if the united states and
mexico each specialize in producing only one good the good for
which each has a comparitive advantage then a toal of ? additional
tons of hamburgers can be produced for the two countries combines
and a total of ? additional tons of tacoes can be produced...
Trade Project: Assign these question to students in a quiz, test, project, in-class assignment, or out-of-class assignm...
Trade Project: Assign these question to students in a quiz, test, project, in-class assignment, or out-of-class assignment. Students should complete this question individually. The following table gives 2018 figures for yield per acre in Illinois and Kansas: STATE WHEAT SOYBEANS Illinois Kansas 39 24 40 1. If we assume that farmers in Illinois and Kansas use the same amount of labor, capital and fertilizer, which state has an absolute advantage in wheat production? Soybean production? 2. Calculate and determine which...
Please help me with econ homework? 2. Suppose that the following table gives recent figures for...
Please help me with econ
homework?
2. Suppose that the following table gives recent figures for yield per acre ininois and Kansas: 37 51 42 31 If we assume that farmers in inois and Kansas use the same amount of labor, capital, and fertilizer, which state has an absolute advantage in wheat production and has an absolute advantage in wheat production and (2) has an absolute advantage in soybean production. If we transfer land out of wheat into soybeans, how...
The graph below depicts Alberta's and British Columbia's PPFs between apples and oil... The graph below...
The graph below depicts Alberta's and British Columbia's PPFs
between apples and oil...
The graph below depicts Alberta's and British Columbia's Production Possibilities Frontiers (PPFs) between apples (measured in tons per month) and oil (measured in barrels per month). You will use this information to calculate the opportunity cost of each good in each Canadian province. You will also identify which province has an absolute advantage and comparative advantage in producing each good. 140 120 PPF A 100 80 60...
1. Below is production levels of lumber and oll for the United States and Canada. Country...
1. Below is production levels of lumber and oll for the United States and Canada. Country Lumber Production (using 50 worker hours) 100 200 Oil Production (using 50 worker hours) 150 50 United States Canada a. Calculate the opportunity cost of producing 100 units of lumber for U.S. b. Calculate the opportunity cost of producing 200 units of lumber for Canada. C. Calculate the opportunity cost of producing 150 units of oil for U.S. d. Calculate the opportunity cost of...
Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two...
Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented in the table below Mexico Hamburgers in tons) Hamburgers in tons) Tacos (in tons) .888 Which country has an absolute advantage in producing tacos? Which country has a comparative advantage in producing tacos? Suppose the United States is currently producing 120 tons of hamburgers and 30 tons of tacos and Mexico is currently...
Question 4 (4 points) In a single year, the US can produce 30 soybeans or 150 avocados. Mexico can produce 15 soybeans or 60 avocados. Suppose Mexico experiences a technological advancement that allows Mexico to produce 90 units of avocados. 1) With the technological advancement, what is the opportunity cost of producing 1 soybean in terms of avocados for Mexico? (Only put numbers) 2) With the technological advancement, what is the opportunity cost of producing 1 avocado in terms of...
Blank # 1 AV US Blank # 2 US Question 2 (6 points) Saved In a single year, the US can produce 30 soybeans or 150 avocados. Mexico can produce 15 soybear 60 avocados. READ THE QUESTIONS CAREFULLY 1) What is the opportunity cost of producing 1 soybean in terms of avocados for the US? (Only put numbers) 2) What is the opportunity cost of producing 1 avocado in terms of soybeans for the US? (Only put ntumbers and write...
5 and 6 please
Chapter 3&18 Intl Trade, Comparative Advantage Mexico PPC Product ABCDE Avocados Soybeans 0 20 24 40 60 1510 9 5 0 U.S. PPC Product RSTUV Avocados 0 30 33 60 90 Soybeans 30 20 1910 O Comparative Advantage Questions 1.A What is Mexico's opportunity cost for producing Avocados? 1.B What is Mexico's opportunity cost for producing Soybeans? 2.A What is the U.S.'s opportunity cost for producing Avocados? 2.B What is the U.S's opportunity cost for producing...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day) Cloth 10 (tons per day) Prus. 0 20 0 0 40 60 80 100 Wheat (tons per day) 0 0 0 100 Wheat (tons per day) Use the Production Possibilities Curves for U.S. and Mexico to determine i. In what commodity do United States has a comparative advantage over Mexico? il. In what commodity do Mexico has a comparative advantage over United States? iii....
suppose the united states is currently producing 200 tons of
hamburgers and 90 tons of tacos mexico is cutrently producing 20
tons of hamburgers and 50 tons of tacoes if the united states and
mexico each specialize in producing only one good the good for
which each has a comparitive advantage then a toal of ? additional
tons of hamburgers can be produced for the two countries combines
and a total of ? additional tons of tacoes can be produced...
Trade Project: Assign these question to students in a quiz, test, project, in-class assignment, or out-of-class assignment. Students should complete this question individually. The following table gives 2018 figures for yield per acre in Illinois and Kansas: STATE WHEAT SOYBEANS Illinois Kansas 39 24 40 1. If we assume that farmers in Illinois and Kansas use the same amount of labor, capital and fertilizer, which state has an absolute advantage in wheat production? Soybean production? 2. Calculate and determine which...
Please help me with econ
homework?
2. Suppose that the following table gives recent figures for yield per acre ininois and Kansas: 37 51 42 31 If we assume that farmers in inois and Kansas use the same amount of labor, capital, and fertilizer, which state has an absolute advantage in wheat production and has an absolute advantage in wheat production and (2) has an absolute advantage in soybean production. If we transfer land out of wheat into soybeans, how...
The graph below depicts Alberta's and British Columbia's PPFs
between apples and oil...
The graph below depicts Alberta's and British Columbia's Production Possibilities Frontiers (PPFs) between apples (measured in tons per month) and oil (measured in barrels per month). You will use this information to calculate the opportunity cost of each good in each Canadian province. You will also identify which province has an absolute advantage and comparative advantage in producing each good. 140 120 PPF A 100 80 60...
1. Below is production levels of lumber and oll for the United States and Canada. Country Lumber Production (using 50 worker hours) 100 200 Oil Production (using 50 worker hours) 150 50 United States Canada a. Calculate the opportunity cost of producing 100 units of lumber for U.S. b. Calculate the opportunity cost of producing 200 units of lumber for Canada. C. Calculate the opportunity cost of producing 150 units of oil for U.S. d. Calculate the opportunity cost of...
Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented in the table below Mexico Hamburgers in tons) Hamburgers in tons) Tacos (in tons) .888 Which country has an absolute advantage in producing tacos? Which country has a comparative advantage in producing tacos? Suppose the United States is currently producing 120 tons of hamburgers and 30 tons of tacos and Mexico is currently...
Most questions answered within 3 hours.
-
A car drives over the crest of a hill of radius 120m with a
speed of...
asked 8 minutes ago -
Implementation of a MapReduce-style distributed word count
application
For this assignment, you can use any programming...
asked 15 minutes ago -
In females, the labia swells and the vagin-a lubricates during
which phase of the sexual response...
asked 46 minutes ago -
2. An item costs a retailer $200. If a 30 percent markup is
desired, what should...
asked 48 minutes ago -
Your client, Anita, is hurt in a car accident and comes to you
for some advice....
asked 1 hour ago -
how many mL of 0.1050 M NaOH is needed to reach a pH of 3.74
when...
asked 55 minutes ago -
QUESTION
Memory retrieval that is easier when the person is in the same
psychological condition during...
asked 59 minutes ago -
The mean annual inflation rate in the UNited States over the
past 98 years in 3.37%...
asked 1 hour ago -
Design a class Holiday that represents a
holiday during the year. This class has three
private...
asked 1 hour ago -
Problem 1 (Logistic Regression and KNN). In this problem, we
predict Direction using the data Weekly.csv....
asked 1 hour ago -
What is the difference between VNTRs (Variable Number Tandem
Repeats) and STRs (Short Tandem Repeats) used...
asked 1 hour ago -
Fill in
Isotope: 15 O
1. Element name:
2. Atomic number:
3. Mass number:
4. Number...
asked 1 hour ago