Mexico United States Possibility Burgers Phones Burgers Phones A 6 0 12 0 B 4...
|
|
Mexico |
United States |
||
|
Possibility |
Burgers |
Phones |
Burgers |
Phones |
|
A |
6 |
0 |
12 |
0 |
|
B |
4 |
8 |
8 |
8 |
|
C |
2 |
16 |
4 |
16 |
|
D |
0 |
24 |
0 |
24 |
Link to video - https://sorrell.mediasite.com/mediasite/Play/89792c6bd5b6474db8bd216fa6d26a471d
5) Suppose, the market for burgers was shown rather than the market for phones in the supply and demand graphs. For the United States to export burgers and Mexico to import burgers, what would world price need to be, in each country, relative to the domestic price?
Homework Answers
Solution -
we know that ,
comparative advantage means compare advantage between to points
Now Find For Mexico,
here we put inputs
6/6 = 24/6
1 burger = 4 phones
Now Find For United States,
here we put inputs
= 12/12 = 24/121
1 burger = 2 phones
Add Answer to:
Mexico
United States
Possibility
Burgers
Phones
Burgers
Phones
A
6
0
12
0
B
4...
Using the table below, show and explain how Mexico has the comparative advantage in phones. ...
Using the table below, show and explain how Mexico has the comparative advantage in phones. Mexico United States Possibility Burgers Phones Burgers Phones A 6 0 12 0 B 4 8 8 8 C 2 16 4 16 D 0 24 0 24
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to retaliate against the quotas Honduras previously placed on US
goods, then the United States will experience:
a. an additional increase in total surplus
b. a additional decrease in total surplus
c. both an increase in total surplus is possible and a decrease
in total surplus is possible
d. no additional change in total surplus
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