10. State briefly the importance of economies of scale, comparative advantage, and trade barriers in these situations: (a) Most wine branded as Champagne comes from France. (b) A large proportion of world coffee production comes from Brazil. Most of the world's buttons come from the Chinese town of Qiaotou. (c)

10. State briefly the importance of economies of scale, comparative advantage, and trade barriers in these situations: (a) Most wine branded as Champagne comes from France. (b) A large proportion of world coffee production comes from Brazil. Most of the world's buttons come from the Chinese town of Qiaotou. (c)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Concept explainers

Opportunity Cost Analysis

Opportunity cost refers to the loss of potential benefits when choosing one alternative over another. It is the tradeoff a person makes, or the potential gains they miss out on, because of their choice. To analyze opportunity cost, we must consider the benefits and tradeoffs of each available option.

Question

Question 10

Hello can you please help awnser question 10 a b and c please thank you

10.
State briefly the importance of economies of scale, comparative advantage, and trade
barriers in these situations:
(a)
Most wine branded as Champagne comes from France.
(b)
A large proportion of world coffee production comes from Brazil.
Most of the world's buttons come from the Chinese town of Qiaotou.
(c)

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