Use the information in the table, but suppose the number of laborers in the United States...
Use the information in the table, but suppose the number of
laborers in the
United States is 300, while the number of laborers in Mexico
remains the same at 2.
a. Determine the terms of trade for the United States.
b. Which country gains more from trade? Briefly explain why.
| Italy | France | Absolute Advantage | |
| Pairs of shoes produced per hour | 6 | 3 | ? |
| Bottles of wine produced per hour | 2 | 1 | ? |
| Comparative advantage | ? | ? |
Homework Answers
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Use the information in the table, but suppose the number of
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Please help me with my economics homework?
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suppose the united states is currently producing 200 tons of
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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
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