England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 40 scones per hour or 2 sweaters per hour. What is a Scottish worker's opportunity cost for 1 sweater? And which has the competitive avantage? If Scottish workers could only produce 1 sweater per hour, would England have the comparative advantage in both scones and sweaters
England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 40 scones per hour or 2 sweaters per hour. What is a Scottish worker's opportunity cost for 1 sweater? And which has the competitive avantage? If Scottish workers could only produce 1 sweater per hour, would England have the comparative advantage in both scones and sweaters
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 2SCQ: Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40...
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England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 40 scones per hour or 2 sweaters per hour.
What is a Scottish worker's
And which has the competitive avantage?
If Scottish workers could only produce 1 sweater per hour, would England have the
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