Landia production possibilities: Fish Chips B с Fish 8 6 Chips 0 10 Scandia production possibilities: C) 36 chips and 10 fish. D) 42 chips and 12 fish. 4 20 B с D 16 12 8 0 12 24 2 30 D 4 36 E 0 40 E 0 48 1. Refer to the above data. If Landia and Scandia fully specialize based on comparative advantage, their aggregate output will be: A) 48 chips and 8 fish. B) 40 chips and 16 fish.

Landia production possibilities: Fish Chips B с Fish 8 6 Chips 0 10 Scandia production possibilities: C) 36 chips and 10 fish. D) 42 chips and 12 fish. 4 20 B с D 16 12 8 0 12 24 2 30 D 4 36 E 0 40 E 0 48 1. Refer to the above data. If Landia and Scandia fully specialize based on comparative advantage, their aggregate output will be: A) 48 chips and 8 fish. B) 40 chips and 16 fish.

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 6SCQ: Table 33.15 shows how the average costs of production for semiconductors (the chips In computer...

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Similar questions

Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
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