which of the following statements are true? I) Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods II) Certain very talented people have a comparative advantage in everything they do  III) If a certain trade is good for one person, it is always good for the other one IV) If trade is good for a country it must be good for everyone in the country

Q: Country A can produce either 200 personal computers or 800 tons of potatoes with the same amount of…

A: (1). Country B has the absolute advantage in producing personal computers because it produces 300…

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A: Production possiblity curve depicts the combination of two goods that can be produced by using given…

Q: The concept of comparative advantage in international trade suggests that:A) Each country should…

A: The concept of comparative advantage in international trade suggests that: D) Each country should…

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A: In a market, producers cam gain different types of competitive advantage based on their…

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A: Given  Wakanda can produce either 8 tons of Vibranium or 2 tons of gold whereas Zamunda can produce…

Q: Explain briefly why a country can have an absolute advantage in the production of two goods, and yet…

A: In international market, trade between the countries take place on the basis of various approaches…

Q: nd rates Imperfect competition Imperfect operation Government may restri

A: Comparative advantage is to the ability of a country for production of particular goods or services…

Q: If a country produces only two goods, then it is not possible to have a comparative advantage in the…

A: The exchange of products and services between businesses in several nations is referred to as…

Q: According to the concept of comparative advantage, a good should be produced in that nation where:…

A: Comparative advantage is the abiity of the nation to produce the good at a lower opportunity cost.

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A: Comparative Advantage refers to the ability of a country to produce a particular good or service at…

Q: Refer to Table 1-1  Now that the countries have opened trade, would each country agree to a trade…

A: Given Derryland has a comparative advantage in the production of cheese and Whetonia has a…

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A: Absolute advantage is the ability for producing a good using fewer inputs while comparative…

Q: Q8

A: Country which has a comparative advantage in a product specialises in that product. It becomes an…

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A: The concept of comparative advantage was first developed by David Ricardo in the early 1800s. It is…

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A: In international theory of economics, comparative advantage occurs when a country can produce one…

Q: Consider two countries, the U.S. and Bangladesh, trading two goods, shoes and food. There are two…

A: As per the given information: There are 2 countries: US & Bangladesh 2 goods Shoes and Food 2…

Q: Use the table to answer the question.    Apples Bananas Country A 500 1,500 Country B 800 1,600 If…

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Q: How do "comparative advantage" and "absolute advantage" influence international trade patterns, and…

A: Comparative Advantage refers to a situation where a country can produce a good at a lower…

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A: Gains of trade happens when countries trade with one another and trade on goods which they…

Q: Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or…

A: Here, it is given that Alpha can produce either 18 oranges or 9 apples, while Beta can produce 16…

Q: The diagram below shows supply and demand curves for the same good in two countries, A and B. Based…

A: Explanation: Соuntry  А  is  exроrting  beсаuse  dоmestiс  рriсe  is  less  thаn  the  wоrld  рriсe.…

Q: According to the theory of comparative advantage, countries gain from trade because Group of answer…

A: Comparative Advantage refers to the ability of a nation to produce a particular good or a service in…

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A: Comparative advantage is when one party can produce goods with lower opportunity cost. Now this…

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A: Production possibility curve -This is a curve which shows various combination of two goods a country…

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A: Comparative advantage refers to the situation when both the trading countries or firms has relative…

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A: The equilibrium is established where the demand and supply are equal.

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Q: A person or nation that has a comparative advantage in the production of a good, should A)…

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