Match the following prompts: Price of $ in B Price of T in A Who has the comparative disadvantage at T? Who has the absolute advantage at T? What are the per-unit gains from specialization based on absolute advantage in the Textile sector? A Country A 1*wage(A) 1$ 2"wage(B) 2$ Country B

Q: The table shows a private open economy. All figures are in billions of dollars. Real GDP C+ lg Net…

A: The real GDP refers to the total goods and services produced in an economy in a given fiscal…

Q: Make flow chart of type of budget?

A: budget is a estimate expense and income for certain period of time

Q: hat i nd Ho rovid xplan astict kes elasti

A: The elasticity is the percentage change concept and not the absolute change concept between the…

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: Use image

A: The spending function represents the relationship between household spending and total income. When…

Q: could you type ur answer i can't read ur handwr

A: The break even point is where the annual savings from the Solar Panel affect the initial investment.…

Q: Habit buying can be beneficial to consumers because (a) it result in paying lower prices for most…

A: The buying behavior of any customer depends on their habit , variety seeking, extended decision…

Q: describe fertilizer/ what it is used for, etc

A: Answer: Fertilizer:  a fertilizer is any natural or synthetic substance that is applied to soil or…

Q: Calculate the value of savings if APS is 0.45 and income is $1200

A: In the above question, we are given with the values as:- Average propensity to save = 0.45 Income =…

Q: Alex is injured and rushed to Care Hospitals for treatment. He spent 64 minutes at the hospital out…

A: The objective of the question is to calculate the service cycle efficiency for Alex's visit to the…

Q: how do you calculate customer's life time value?

A: In this world of tough competition customers are acquired and lost over the firm’s lifetime, but a…

Q: How is the Purchasing power important?

A: Answer - Purchasing Power - Purchasing power is overall buying capacity of country which is…

Q: Sara has health insurance with a $2,000 annual deductible, a $3,000 stop loss provision and 80/20…

A: Insurance refers to a type of financial product intended to shield people and businesses from the…

Comparative Advantage and Absolute Advantage Analysis

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