1. Which country has an absolute advantage in Weapon? 2. Which country has an absolute advantage in Iceburst Stone? 3. Which country has a comparative advantage in Weapon? 4. What is the Relative Price of Iceburst Stone in Eldia? 5. What is the Relative Price of Iceburst Stone in Hizuru? 6. Which country has a comparative advantage in Iceburst Stone? 7. When trade is opened, which country exports Weapon? 8. When trade is opened, which country exports Iceburst Stone? 9. A country is relatively (blank) if it has a higher ratio of labor to other factors than does the rest of the world. 10. A product is relatively (blank) if labor costs are a greater share of its value than they are of the value of other products.
The table of the given is in the image. Thank you.
1. Which country has an
2. Which country has an absolute advantage in Iceburst Stone?
3. Which country has a
4. What is the Relative Price of Iceburst Stone in Eldia?
5. What is the Relative Price of Iceburst Stone in Hizuru?
6. Which country has a comparative advantage in Iceburst Stone?
7. When trade is opened, which country exports Weapon?
8. When trade is opened, which country exports Iceburst Stone?
9. A country is relatively (blank) if it has a higher ratio of labor to other factors than does the rest of the world.
10. A product is relatively (blank) if labor costs are a greater share of its value than they are of the value of other products.
![Using standard Ricardian assumption, assume the following:
Labor Hours per Labor Hours per
Unit of Weapon Unit of Iceburst Stone
...
Hizuru
15
10
Eldia
10
4
Hizuru has 30 million hours of labor in total per year. Eldia has 20 million hours of labor per year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7d9590f-627f-4ce7-97fb-9f8a88a69625%2Fb8d80a74-d0f8-4268-a894-cc6c598b05ed%2F53yk87f_processed.png&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)