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Suppose that the following table gives recent figures for yield per acre in Illinois and Kansas: Illinois Kansas WHEAT 42 57 SOYBEANS 38 44 If we assume that farmers in Illinois and Kansas use the same amount of labor, capital, and fertilizer, which state has an absolute advantage in wheat production and soybean production? Kansas has an absolute advantage in wheat production and Kansas has an absolute advantage in soybean production. If we transfer land out of wheat into soybeans, how many bushels of wheat do we give up in Illinois and in Kansas per additional bushel of soybean production? In Illinois, an additional bushel of soybean production results in 1.105 fewer bushels of wheat, and in Kansas, an additional bushel of soybean production results in 1.295 fewer bushels of wheat. (Enter your responses rounded to three decimal places.) Which state has a comparative advantage in soybean production and in soybean production? Illinois has a comparative advantage in soybean production and Kansas has a comparative advantage in wheat production. The following table gives the distribution of land planted for each state in millions of acres in the same year. TOTAL ACRES UNDER TILL Illinois 22.9 Kansas 20.7 11.8 (57.0%) (39.7%) 1.9 (9.2%) WHEAT 1.9 (8.3%) SOYBEANS 9.1 Are these data consistent with your answers above? Yes

Suppose that the following table gives recent figures for yield per acre in Illinois and Kansas: Illinois Kansas WHEAT 42 57 SOYBEANS 38 44 If we assume that farmers in Illinois and Kansas use the same amount of labor, capital, and fertilizer, which state has an absolute advantage in wheat production and soybean production? Kansas has an absolute advantage in wheat production and Kansas has an absolute advantage in soybean production. If we transfer land out of wheat into soybeans, how many bushels of wheat do we give up in Illinois and in Kansas per additional bushel of soybean production? In Illinois, an additional bushel of soybean production results in 1.105 fewer bushels of wheat, and in Kansas, an additional bushel of soybean production results in 1.295 fewer bushels of wheat. (Enter your responses rounded to three decimal places.) Which state has a comparative advantage in soybean production and in soybean production? Illinois has a comparative advantage in soybean production and Kansas has a comparative advantage in wheat production. The following table gives the distribution of land planted for each state in millions of acres in the same year. TOTAL ACRES UNDER TILL Illinois 22.9 Kansas 20.7 11.8 (57.0%) (39.7%) 1.9 (9.2%) WHEAT 1.9 (8.3%) SOYBEANS 9.1 Are these data consistent with your answers above? Yes

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 10RQ: What is comparative advantage?
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check my answers, fix them if they are wrong. everything is in the picture. the drop down menus are either kansas or Illinois, except the last one which is yes or no. 

 

Suppose that the following table gives recent figures for yield per acre in Illinois and Kansas: Illinois Kansas WHEAT 42 57 SOYBEANS 38 44 If we assume that farmers in Illinois and Kansas use the same amount of labor, capital, and fertilizer, which state has an absolute advantage in wheat production and soybean production? Kansas has an absolute advantage in wheat production and Kansas has an absolute advantage in soybean production. If we transfer land out of wheat into soybeans, how many bushels of wheat do we give up in Illinois and in Kansas per additional bushel of soybean production? In Illinois, an additional bushel of soybean production results in 1.105 fewer bushels of wheat, and in Kansas, an additional bushel of soybean production results in 1.295 fewer bushels of wheat. (Enter your responses rounded to three decimal places.) Which state has a comparative advantage in soybean production and in soybean production? Illinois has a comparative advantage in soybean production and Kansas has a comparative advantage in wheat production. The following table gives the distribution of land planted for each state in millions of acres in the same year. TOTAL ACRES UNDER TILL Illinois 22.9 Kansas 20.7 11.8 (57.0%) (39.7%) 1.9 (9.2%) WHEAT 1.9 (8.3%) SOYBEANS 9.1 Are these data consistent with your answers above? Yes
Transcribed Image Text:Suppose that the following table gives recent figures for yield per acre in Illinois and Kansas: Illinois Kansas WHEAT 42 57 SOYBEANS 38 44 If we assume that farmers in Illinois and Kansas use the same amount of labor, capital, and fertilizer, which state has an absolute advantage in wheat production and soybean production? Kansas has an absolute advantage in wheat production and Kansas has an absolute advantage in soybean production. If we transfer land out of wheat into soybeans, how many bushels of wheat do we give up in Illinois and in Kansas per additional bushel of soybean production? In Illinois, an additional bushel of soybean production results in 1.105 fewer bushels of wheat, and in Kansas, an additional bushel of soybean production results in 1.295 fewer bushels of wheat. (Enter your responses rounded to three decimal places.) Which state has a comparative advantage in soybean production and in soybean production? Illinois has a comparative advantage in soybean production and Kansas has a comparative advantage in wheat production. The following table gives the distribution of land planted for each state in millions of acres in the same year. TOTAL ACRES UNDER TILL Illinois 22.9 Kansas 20.7 11.8 (57.0%) (39.7%) 1.9 (9.2%) WHEAT 1.9 (8.3%) SOYBEANS 9.1 Are these data consistent with your answers above? Yes
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