Almonds Shorts Country (Pounds per hour of labor) (Pairs per hour of labor) Sequoia 4 16 Yosemite 6 12 Suppose that initially Yosemite uses 1 million hours of labor per week to produce almonds and 3 million hours per week to produce shorts, while Sequoia uses 3 million hours of labor per week to produce almonds and 1 million hours per week to produce shorts. As a result, Sequoia produces 12 million pounds of almonds and 16 million pairs of shorts, and Yosemite produces 6 million pounds of almonds and 36 million pairs of shorts. Assume there are no other countries willing to engage in trade, so, in the absence of trade between these two countries, each country consumes the amount of almonds and shorts it produces. Sequoia's opportunity cost of producing 1 pound of almonds is almonds is of shorts. Therefore, comparative advantage in the production of shorts. of shorts, and Yosemite's opportunity cost of producing 1 pound of has a comparative advantage in the production of almonds, and ♥ has a

Almonds Shorts Country (Pounds per hour of labor) (Pairs per hour of labor) Sequoia 4 16 Yosemite 6 12 Suppose that initially Yosemite uses 1 million hours of labor per week to produce almonds and 3 million hours per week to produce shorts, while Sequoia uses 3 million hours of labor per week to produce almonds and 1 million hours per week to produce shorts. As a result, Sequoia produces 12 million pounds of almonds and 16 million pairs of shorts, and Yosemite produces 6 million pounds of almonds and 36 million pairs of shorts. Assume there are no other countries willing to engage in trade, so, in the absence of trade between these two countries, each country consumes the amount of almonds and shorts it produces. Sequoia's opportunity cost of producing 1 pound of almonds is almonds is of shorts. Therefore, comparative advantage in the production of shorts. of shorts, and Yosemite's opportunity cost of producing 1 pound of has a comparative advantage in the production of almonds, and ♥ has a

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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plz help 4.11 (hand written i'll give you multiple upvote)
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