When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialue in the production of this good and trade & for other goods. The following graphs show the production possibilities frontiers (PPF) for Yosemite and Congares. Both countries produce com and lentils, each intally (e, before specialuation and trade) producing 6 million pounds of corn and 3 million pounds of lentils, as indicated by the gray stars marked with the letter A STENT 199 2 Yo A. A CORN (M . 14 LENTILS (of pound 2 Yosemite has a comparative advantage in the production of production of comparative advantage. After specialuation, the two countries can produce a total of corn. Canger 4 . 4 COHN (Mof pounds) 14 while Congare has a comparative advantage in the Suppose that Yosemite and Congares specialize in the production of the goods in which sach has a milion pounds of lentils and [ milion pounds of
When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialue in the production of this good and trade & for other goods. The following graphs show the production possibilities frontiers (PPF) for Yosemite and Congares. Both countries produce com and lentils, each intally (e, before specialuation and trade) producing 6 million pounds of corn and 3 million pounds of lentils, as indicated by the gray stars marked with the letter A STENT 199 2 Yo A. A CORN (M . 14 LENTILS (of pound 2 Yosemite has a comparative advantage in the production of production of comparative advantage. After specialuation, the two countries can produce a total of corn. Canger 4 . 4 COHN (Mof pounds) 14 while Congare has a comparative advantage in the Suppose that Yosemite and Congares specialize in the production of the goods in which sach has a milion pounds of lentils and [ milion pounds of
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its
trading partner. Then the country will specialize in the production of this good and trade it for other goods.
The following graphs show the production possibilities frontiers (PPFS) for Yosemite and Congares. Both countries produce corn and lentils, each
initially (ie, before specialization and trade) producing 6 million pounds of corn and 3 million pounds of lentils, as indicated by the grey stars marked
with the letter A.
LENTILS (MEns of pounds
0
0
194
2
Yout
4 10
CORN (Mof pounds)
14
16
LENTILS (Mons of pounds
0
2
Yosemite has a comparative advantage in the production of
production of
comparative advantage. After specialization, the two countries can produce a total of
comm.
Conger
L 10 12
COHN (Mof pounds)
14 16
(?)
conn
while Congaree has a comparative advantage in the
-Suppose that Yosemite and Congaree specialize in the production of the goods in which each has a
6 million pounds of lentils and [ million pounds of](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54bcf3d5-39e5-436b-a3ed-a5481c58e005%2F956c3978-5907-4c7c-ac97-0192d1d51d20%2Fbdxq91p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its
trading partner. Then the country will specialize in the production of this good and trade it for other goods.
The following graphs show the production possibilities frontiers (PPFS) for Yosemite and Congares. Both countries produce corn and lentils, each
initially (ie, before specialization and trade) producing 6 million pounds of corn and 3 million pounds of lentils, as indicated by the grey stars marked
with the letter A.
LENTILS (MEns of pounds
0
0
194
2
Yout
4 10
CORN (Mof pounds)
14
16
LENTILS (Mons of pounds
0
2
Yosemite has a comparative advantage in the production of
production of
comparative advantage. After specialization, the two countries can produce a total of
comm.
Conger
L 10 12
COHN (Mof pounds)
14 16
(?)
conn
while Congaree has a comparative advantage in the
-Suppose that Yosemite and Congaree specialize in the production of the goods in which each has a
6 million pounds of lentils and [ million pounds of
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