(a) To explain: The way productive advantage theory of comparative advantage can explain that the United States exports computers.

Question

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Answer 1

Question

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

Chapter 34, Problem 8E

To determine

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

To determine

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

To determine

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

To determine

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

To determine

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

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Students have asked these similar questions

According to the "Principle of Comparative Advantage," a country should specialize in producing a good or service if it has:a) The highest opportunity cost b) The lowest opportunity cost c) The highest production cost d) The lowest production cost

The concept of comparative advantage is used by both countries and companies. Use a two goods example and two countries or companies to explain the comparative advantage theory. Use this theory to justify if its worthwhile for countries or companies specialize.

Which country has a comparative advantage in the production of wine?

Answer 2

Question

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

Chapter 34, Problem 8E

To determine

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

To determine

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

To determine

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

To determine

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

To determine

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

Expert Solution & Answer

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Answer 3

Question

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

Chapter 34, Problem 8E

To determine

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

To determine

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

To determine

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

To determine

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

To determine

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

Expert Solution & Answer

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Answer 4

Question

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

Chapter 34, Problem 8E

To determine

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

To determine

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

To determine

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

To determine

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

To determine

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

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Answer 5

Chapter 34, Problem 8E

To determine

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

To determine

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

To determine

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

To determine

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

To determine

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

Answer 6

Chapter 34, Problem 8E

To determine

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

Answer 7

Chapter 34, Problem 8E

To determine

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

Answer 8

To determine

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

Answer 9

To determine

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

Answer 10

To determine

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

Answer 11

To determine

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

Answer 12

To determine

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

Answer 13

To determine

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

Answer 14

To determine

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

Answer 15

To determine

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 34 - Prob. 1E Ch. 34 - Prob. 2E Ch. 34 - Prob. 3E Ch. 34 - Prob. 4E Ch. 34 - Prob. 5E Ch. 34 - Prob. 6E Ch. 34 - Prob. 7E Ch. 34 - Prob. 8E Ch. 34 - Prob. 9E Ch. 34 - Prob. 10E

(a) To explain: The way productive advantage theory of comparative advantage can explain that the United States exports computers.

Concept explainers

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.

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Chapter 34 Solutions

(a) To explain: The way productive advantage theory of comparative advantage can explain that the United States exports computers.

Concept explainers

(a) To explain: The way productive advantage theory of comparative advantage can explain that the United States exports computers.

(b) To explain: The way factor abundance theory of comparative advantage can explain that the United States exports computers.

(c) To explain: The way human skills theory of comparative advantage can explain that the United States exports computers.

(d) To explain: The way product life cycle theory of comparative advantage can explain that the United States exports computers.

(e) To explain: The way preference theory of comparative advantage is able to explain that the United States exports computers.

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Chapter 34 Solutions

(a)

To explain:

The way productive advantage theory of comparative advantage can explain that the United States exports computers.

(b)

To explain:

The way factor abundance theory of comparative advantage can explain that the United States exports computers.

(c)

To explain:

The way human skills theory of comparative advantage can explain that the United States exports computers.

(d)

To explain:

The way product life cycle theory of comparative advantage can explain that the United States exports computers.

(e)

To explain:

The way preference theory of comparative advantage is able to explain that the United States exports computers.