Q) how to solve d? for scotland its suppose to be 150 (from 100*0.5)for grapesland its suppose to be 250, but how do you get this answer? The table below gives the labor productivity of Grapeland andScotland in liters per hour:GrapelandScotlandWineWhisky3,0005,0001,00010,000A) Which country has the absolute advantage in wine? In Whisky?B) Which country has a comparative advantage in Whisky?C) What are the upper and lower bounds for the trade price ofWhisky?D) If the two countries decide to trade 100 liters of VWhisky at arate of 2 liters of wine per liter of whisky, what are the gains fromtrade?

Name: Q) how to solve d? for scotland its suppose to be 150 (from 100*0.5)fo
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Description: Q) how to solve d? for scotland its suppose to be 150 (from 100*0.5)for grapesland its suppose to be 250, but how do you get this answer? The table below gives the labor productivity of Grapeland andScotland in liters per hour:GrapelandScotlandWineWh

Since you have asked to solve part D so I am solving that part only.

Answered: D) If the two countries decide to trade…

Business

Economics

D) If the two countries decide to trade 100 liters of Whisky at a rate of 2 liters of wine per liter of whisky, what are the gains from trade?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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