Suppose Mexico can produce either 2 million tomato plants or 2 million cannabis plants while the United States can produce 4 million tomato plants or 4 million cannabis plants during the same time period. Which country has the absolute advantage in​ tomatoes?   A. Neither   B. Mexico   C. United States   Who has the absolute advantage in​ cannabis?   A. United States   B. Mexico   C. Neither   Which country has the comparative advantage in​ tomatoes?   A. United States   B. Mexico   C. Neither

England and Scotland both produce scones and sweaters.  Suppose that an English works can produce 50 scones per hour or 1 sweater per hour.  Suppose that a Scottish worker can produce 40 scones per hour or 2 sweaters per hour. a.  Which country has the absolute advantage in the production of each good?  Which country has the comparative advantage? b. If England and Scotland decide to trade, which commodity will Scotland trade to England?  Explain. c.  If a Scottish worker could produce only 1 sweater per hour, would Scotland still gain from trade? Would England still gain from trade? Explain.

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Suppose that Spain and Switzerland both produce oil and cheese. Spain's opportunity cost of producing a pound of cheese is 4 barrels of oil while Switzerland's opportunity cost of producing a pound of cheese is 10 barrels of oil. By comparing the opportunity cost of producing cheese in the two countries, you can tell that    has a comparative advantage in the production of cheese and    has a comparative advantage in the production of oil.   Suppose that Spain and Switzerland consider trading cheese and oil with each other. Spain can gain from specialization and trade as long as it receives more than    of oil for each pound of cheese it exports to Switzerland. Similarly, Switzerland can gain from trade as long as it receives more than    of cheese for each barrel of oil it exports to Spain.   Based on your answer to the last question, which of the following prices of trade (that is, price of cheese in terms of oil) would allow both Switzerland and Spain to gain from…

Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented in the table below. United States Mexico Hamburgers (in tons) Tacos (in tons) Hamburgers (in tons) Tacos (in tons) 162 135 90 108 18 90 180 54 36 45 270 54 Which country has an absolute advantage in producing tacos? The United States Which country has a comparative advantage in producing tacos? Mexico Suppose the United States is currently producing 180 tons of hamburgers and 54 tons of tacos and Mexico is currently producing 36 tons of hamburgers and 45 tons of tacos. If the United States and Mexico each specialize in producing only one good (the good for which each has a comparative advantage), then a total of additional ton(s) of hamburgers can be produced for the two countries combined (enter a numeric response using an integer)

Using the data presented in the table below answer the followings: a) which country has comparative advantage in the production of apples, oranges? Explain and show wor b) which country has an absolute advantage in the production of apples, oranges? c) Which country should specialize in the production of apples, oranges? Explain why points) Production per worker: Oranges U.S. 300 Mexico 150 Apples 100 600

Wheat 8 Paul 10 Corn Wheat 6 4 Cliff Refer to Figure 3-1. What do the two producers have a comparative advantage in? Corn Paul has a comparative advantage in both wheat and corn. Paul has a comparative advantage in wheat, and Cliff has a comparative advantage in corn. Cliff has a comparative advantage in wheat, and Paul has a comparative advantage in corn. Cliff has a comparative advantage in both wheat and corn.

Suppose that France and Italy both produce wine and cheese. France's opportunity cost of producing a case of cheese is 5 barrels of wine, while Italy's opportunity cost of producing a case of cheese is 10 barrels of wine. By comparing the opportunity cost of producing cheese in the two countries, you can tell that comparative advantage in the production of cheese and has a comparative advantage in the production of wine. Suppose that France and Italy consider trading cheese and wine. France can gain from specialization and trade as long as it receives more than of wine for each case of cheese it exports to Italy. Similarly, Italy can gain from trade as long as it receives of cheese for each barrel of wine it exports to France. more than Based on your answer to the last question, a price ratio between benefit both countries. has a barrels of wine per case of cheese will

I don't understand the second part of this homework. If Frankie and Johnny completely specialize according to comparative advantage, what will happen to the amount of eggs and milk? I have the opportunity cost calculated to understand who should do what in this case. But what will I do to that number?

Suppose that Portugal and Germany both produce jeans and wine. Portugal's opportunity cost of producing a bottle of wine is 5 pairs of jeans while Germany's opportunity cost of producing a bottle of wine is 11 pairs of jeans. By comparing the opportunity cost of producing wine in the two countries, you can tell that (GERMANY OR PORTUGAL)   has a comparative advantage in the production of wine and (GERMANY OR PORTUGAL)     has a comparative advantage in the production of jeans.   Suppose that Portugal and Germany consider trading wine and jeans with each other. Portugal can gain from specialization and trade as long as it receives more than  (1, 1/11, 1/5, 5 OR 11)  of jeans for each bottle of wine it exports to Germany. Similarly, Germany can gain from trade as long as it receives more than (1, 1/11, 1/5, 5 OR 11)   of wine for each pair of jeans it exports to Portugal.   Based on your answer to the last question, which of the following prices of trade (that is, price…