16 b. If the two countries decide to specialize, in which product does each country have a comparative advantage?Yin: (Click to select)Yang: (Click to select)c. If the two countries specialize in the product in which they have a comparative advantage, show their total outputs in the tablebelow.SPEAKSTRYinYangTotalsMachinesMachinesLoaves ofbreadd. What are the gains from trade?Loaves ofbreadLOLIONPrevO Search16 of 18SAMSUNGNext > The table below shows the labour productivity for the countries of Yin and Yang.YinYangYinYangTotalsMachines35a. If the working populations of Yin and Yang are both 20 million, divided equally between the two industries in each country, howmany machines and loaves of bread (in millions) are currently being produced in Yin and Yang?YinMachinesYangTotalsVIETNESororLoaves ofbread12b. If the two countries decide to specialize, in which product does each country have a comparative advantage?Yin: (Click to select) vYang: (Click to select)MachinesLoaves ofbreadc. If the two countries specialize in the product in which they have a comparative advantage, show their total outputs in the tablebelow.3Loaves ofbreadd. What are the gains from trade?< PrevO Search16 of 18Next >

Given the labor productivity as: Machines Loaf of Breads Yin 3 12 Yang 5 3 Both "Yin"…

in: (Click to select) ang: (Click to select) c. If the two countries specialize in the product in which they have a comparative advantage, show their total outputs in the table below. Yin Yang es decide to specialize, in which product does each country have a comparative advantage? Totals Machines Machines Loaves of bread d. What are the gains from trade? Loaves of bread ZATOEN omn

in: (Click to select) ang: (Click to select) c. If the two countries specialize in the product in which they have a comparative advantage, show their total outputs in the table below. Yin Yang es decide to specialize, in which product does each country have a comparative advantage? Totals Machines Machines Loaves of bread d. What are the gains from trade? Loaves of bread ZATOEN omn

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

b. If the two countries decide to specialize, in which product does each country have a comparative advantage?
Yin: (Click to select)
Yang: (Click to select)
c. If the two countries specialize in the product in which they have a comparative advantage, show their total outputs in the table
below.
SPEAK
STR
Yin
Yang
Totals
Machines
Machines
Loaves of
bread
d. What are the gains from trade?
Loaves of
bread
LOLION
Prev
O Search
16 of 18
SAMSUNG
Next >

The table below shows the labour productivity for the countries of Yin and Yang.
Yin
Yang
Yin
Yang
Totals
Machines
3
5
a. If the working populations of Yin and Yang are both 20 million, divided equally between the two industries in each country, how
many machines and loaves of bread (in millions) are currently being produced in Yin and Yang?
Yin
Machines
Yang
Totals
VIETNES
or
or
Loaves of
bread
12
b. If the two countries decide to specialize, in which product does each country have a comparative advantage?
Yin: (Click to select) v
Yang: (Click to select)
Machines
Loaves of
bread
c. If the two countries specialize in the product in which they have a comparative advantage, show their total outputs in the table
below.
3
Loaves of
bread
d. What are the gains from trade?
< Prev
O Search
16 of 18
Next >

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