With reference to Table 2 below, indicate in what commodity the U.S. and the Philippines have a comparative advantage? Table 2 COMMODITY U.S. Philippines Wheat (bushels/man-hour) Rice (sacks/man-hour) 7 1 4 3
With reference to Table 2 below, indicate in what commodity the U.S. and the Philippines have a comparative advantage? Table 2 COMMODITY U.S. Philippines Wheat (bushels/man-hour) Rice (sacks/man-hour) 7 1 4 3
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 23CTQ: Does intra-industry trade contradict the theory of comparative advantage?
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Question
![With reference to Table 2 below, indicate in what commodity the U.S. and the Philippines have a
comparative advantage?
Table 2
COMMODITY
U.S.
Philippines
Wheat (bushels/man-hour)
7
1
Rice (sacks/man-hour)
4
3](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F84ba8971-b714-4150-96ad-ffb902f3e9f8%2F937c544e-15ae-4eb4-89a5-e4fe232d7491%2Fbjqt00o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:With reference to Table 2 below, indicate in what commodity the U.S. and the Philippines have a
comparative advantage?
Table 2
COMMODITY
U.S.
Philippines
Wheat (bushels/man-hour)
7
1
Rice (sacks/man-hour)
4
3
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