Hours of work necessary to produce one unit of cloth or wine is shown in the following table: Cloth 100 90 England Portugal Who has the absolute advantage in cloth, and who has the absolute advantage in wine? O England, England O England, Portugal O Portugal, Portugal O Portugal, England Wine 120 80

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Hours of work necessary to produce one unit of cloth or wine is shown in the following table:
England
Portugal
Who has the absolute advantage in cloth, and who has the absolute advantage in wine?
O England, England
O England, Portugal
O Portugal, Portugal
O Portugal, England
Cloth
100
90
Wine
120
80
Transcribed Image Text:Hours of work necessary to produce one unit of cloth or wine is shown in the following table: England Portugal Who has the absolute advantage in cloth, and who has the absolute advantage in wine? O England, England O England, Portugal O Portugal, Portugal O Portugal, England Cloth 100 90 Wine 120 80
Hours of work necessary to produce one unit of cloth or wine is shown in the following table:
Cloth Wine
England 100 120
Portugal 90 80
What is the opportunity cost of England to produce cloth?
1.1
.9
1.2
.83
Transcribed Image Text:Hours of work necessary to produce one unit of cloth or wine is shown in the following table: Cloth Wine England 100 120 Portugal 90 80 What is the opportunity cost of England to produce cloth? 1.1 .9 1.2 .83
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