A) Which nation has an absolute advantage in the production of cars?B) Which nation has an absolute advantage in the production of red wine? Quantity Produced in 8HoursMinutes Needed to Make 1Table for Problems 18and 19Bottle ofBottles ofCarCarWineWineUnited States12015432France24010248

Name: A) Which nation has an absolute advantage in the production of cars?B)
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Description: A) Which nation has an absolute advantage in the production of cars?B) Which nation has an absolute advantage in the production of red wine? Quantity Produced in 8HoursMinutes Needed to Make 1Table for Problems 18and 19Bottle ofBottles ofCarCarWineWi

In the international trade, absolute advantage theory started that a nation will have an absolute…

Answered: Quantity Produced in 8 Hours Minutes…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A) Which nation has an absolute advantage in the production of cars?
B) Which nation has an absolute advantage in the production of red wine?

Quantity Produced in 8
Hours
Minutes Needed to Make 1
Table for Problems 18
and 19
Bottle of
Bottles of
Car
Car
Wine
Wine
United States
120
15
4
32
France
240
10
2
48

Definition Video Definition Ability of a country to produce more output with a given level of input or to produce the same level of output with a lower level of input as compared to the other countries. For example, if Country A produces 200 units with the help of 10 units of labor, and Country B produces 300 units with 10 units of labor, Country A has an absolute advantage in the production of the good. Video

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