Question

Partial Question 1 16.67 / 20 pts The table below describes production possibilities for Mexico and Nigeria. Each number in the table shows the number of workers needed to produce one unit of the product Shoes Glasses Country Mexico 10 12 Nigeria 18 5 1. What is the opportunity cost of producing Shoes in Mexico? .833 _Glasses 2. What is the opportunity cost of producing Glasses in Mexico? 1.2 Shoes 3. What is the opportunity cost of producing Shoes in Nigeria? 3.6 Glasses 4. What is the opportunity cost of producing Glasses in Nigeria? .278 Shoes 5. Which country has an absolute advantage in producing Shoes? Nigeria 6. Which country has an absolute advantage in producing Glasses? Mexico 7. Which country has a comparative advantage in producing Glasses? Nigeria 8. Which country has a comparative advantage in producing Shoes? Mexico 9. Which country should be specializing in the production of Glasses? Nigeria 10. Which country should be specializing in the production of Shoes? Mexico 11. Which country should be exporting Shoes? Mexico 12. Which country should be exporting Glasses? Nigeria

I got two wrong. Im guessing two of the last four but im not sure.

Answer 1

Date: Counby Page No.: Shoes Mexico Glasses 10 Nigeria 18 s " Glasses in Meaio 1.2 shoes 8 ©999090999 opp cost of produce oducing shoes in meacio =0.833 glasses opp cost of produung shoes in Nagina = 3.6 passes - " chasses" = 0.278 phos Mexico has an absolut advawage in Shoes, Nigeria has an absolute advantage in posses Nigere has Caniglass Medio has Ain Shoes, Negeria should specialize in shows. glass, Mexico should specialize in shoes." Export Shoes-> Meacis Nigeria Export glass - Dur wrong.