Use the following to answer appropriate questions: Table 1 Canada's production possibilities Tons of Steel 15 10 5 0 Airplanes. 0 6420 4 8 12 Table 2 +Mexico's production possibilities Tons of Steel Airplanes 0 2 4 6 (Tables 1 and 2) using above tables we can determine that: Mexico has an absolute advantage over Canada in producing both steel and airplanes. Mexico has a comparative advantage in producing steel. Canada has a comparative advantage in producing airplanes. Canada has an absolute advantage over Mexico in producing both steel and airplanes.
Use the following to answer appropriate questions: Table 1 Canada's production possibilities Tons of Steel 15 10 5 0 Airplanes. 0 6420 4 8 12 Table 2 +Mexico's production possibilities Tons of Steel Airplanes 0 2 4 6 (Tables 1 and 2) using above tables we can determine that: Mexico has an absolute advantage over Canada in producing both steel and airplanes. Mexico has a comparative advantage in producing steel. Canada has a comparative advantage in producing airplanes. Canada has an absolute advantage over Mexico in producing both steel and airplanes.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Use the following to answer appropriate questions:
Table 1
Canada's production possibilities
Tons of Steel
15
10
5
0
Airplanes.
0
2
0
4
8
12
Table 2
+Mexico's production possibilities
Tons of Steel
6
4
Airplanes
0
2
4
6
(Tables 1 and 2) using above tables we can determine that:
Mexico has an absolute advantage over Canada in producing both steel and airplanes.
Mexico has a comparative advantage in producing steel.
Canada has a comparative advantage in producing airplanes.
O
Canada has an absolute advantage ove Mexico in producing both steel and airplanes.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3bfc8b51-a5ac-4c46-87bd-37c742346031%2F2a24591c-0ac0-45eb-8d25-fb4ac683282d%2Fj11ru41_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the following to answer appropriate questions:
Table 1
Canada's production possibilities
Tons of Steel
15
10
5
0
Airplanes.
0
2
0
4
8
12
Table 2
+Mexico's production possibilities
Tons of Steel
6
4
Airplanes
0
2
4
6
(Tables 1 and 2) using above tables we can determine that:
Mexico has an absolute advantage over Canada in producing both steel and airplanes.
Mexico has a comparative advantage in producing steel.
Canada has a comparative advantage in producing airplanes.
O
Canada has an absolute advantage ove Mexico in producing both steel and airplanes.
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