Exhibit 29-1 Country Output per Day of Work Good A Good B China 10 5 India 3 According to the data in Exhibit 29-1, China has a(n) comparative advantage in neither good. absolute advantage in the production of both goods. comparative advantage in both goods. absolute advantage in good A but not in good B. comparative advantage in good A.
Exhibit 29-1 Country Output per Day of Work Good A Good B China 10 5 India 3 According to the data in Exhibit 29-1, China has a(n) comparative advantage in neither good. absolute advantage in the production of both goods. comparative advantage in both goods. absolute advantage in good A but not in good B. comparative advantage in good A.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Pls help with below homework, answer both question correctly.
![Exhibit 29-1
Country
Output per Day of Work
Good A
Good B
China
10
5
India
3
According to the data in Exhibit 29-1, China has a(n)
comparative advantage in neither good.
absolute advantage in the production of both
goods.
comparative advantage in both goods.
absolute advantage in good A but not in good B.
comparative advantage in good A.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd01c6141-e958-4665-ba39-8cd99c1ceff2%2Ffeda68a1-c785-4f47-bdc9-dd667edfd353%2F36y9bcm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exhibit 29-1
Country
Output per Day of Work
Good A
Good B
China
10
5
India
3
According to the data in Exhibit 29-1, China has a(n)
comparative advantage in neither good.
absolute advantage in the production of both
goods.
comparative advantage in both goods.
absolute advantage in good A but not in good B.
comparative advantage in good A.
![Exhibit 30-1
Quantity of Imports Quantity of Exports Price
(S)
Demanded
Supplied
20
4
1
18
6
2
16
8
3
14
10
4
12
12
5
10
14
6.
8
16
7
18
8
Refer to Exhibit 30-1. If the importing country imposes a
tariff of $2 per unit, the new equilibrium price will be
$5.
O $4.
O $7.
$6.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd01c6141-e958-4665-ba39-8cd99c1ceff2%2Ffeda68a1-c785-4f47-bdc9-dd667edfd353%2Fcf70fqe_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exhibit 30-1
Quantity of Imports Quantity of Exports Price
(S)
Demanded
Supplied
20
4
1
18
6
2
16
8
3
14
10
4
12
12
5
10
14
6.
8
16
7
18
8
Refer to Exhibit 30-1. If the importing country imposes a
tariff of $2 per unit, the new equilibrium price will be
$5.
O $4.
O $7.
$6.
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