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Use the following information for the next two questions: the U.S. can produce 4 tons of potatoes per day or 2 tons of wheat per day. Ireland can produce 3 tons of potatoes per day or one ton of wheat. 17. The opportunity cost for Ireland producing one ton of potatoes is how many tons of wheat? one-fourth 1/3 a. b. с. 1 d. 3 The U.S. has the comparative advantage in producing potatoes. wheat. a. b. C. both. d. neither. It is possible to have a comparative advantage without having any absolute advantages. а. true b. false

Use the following information for the next two questions: the U.S. can produce 4 tons of potatoes per day or 2 tons of wheat per day. Ireland can produce 3 tons of potatoes per day or one ton of wheat. 17. The opportunity cost for Ireland producing one ton of potatoes is how many tons of wheat? one-fourth 1/3 a. b. с. 1 d. 3 The U.S. has the comparative advantage in producing potatoes. wheat. a. b. C. both. d. neither. It is possible to have a comparative advantage without having any absolute advantages. а. true b. false

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 30P: In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10...
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Use the following information for the next two questions: the U.S. can produce 4 tons of potatoes per day or 2 tons of wheat per day. Ireland can produce 3 tons of potatoes per day or one ton of wheat. 17. The opportunity cost for Ireland producing one ton of potatoes is how many tons of wheat? а. one-fourth b. 1/3 с. 1 d. 3 The U.S. has the comparative advantage in producing potatoes. wheat. а. b. с. both. d. neither. It is possible to have a comparative advantage without having any absolute advantages. а. true b. false
Transcribed Image Text:Use the following information for the next two questions: the U.S. can produce 4 tons of potatoes per day or 2 tons of wheat per day. Ireland can produce 3 tons of potatoes per day or one ton of wheat. 17. The opportunity cost for Ireland producing one ton of potatoes is how many tons of wheat? а. one-fourth b. 1/3 с. 1 d. 3 The U.S. has the comparative advantage in producing potatoes. wheat. а. b. с. both. d. neither. It is possible to have a comparative advantage without having any absolute advantages. а. true b. false
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