Answer:
FRANCE has a comparative advantage in the production of cheese and SWEDEN has a comparative advantage in the production of oil.
- Comparative advantages result form the lowest opportunity costs. In this case, France's opportunity cos tot produce cheese is lower, while Sweden's opportunity cost of producing oil is lower.
France can gain from specialization and trade as long as it receives more than 3 BARRELS of oil for each pound of cheese it exports to Sweden. Similarly, Sweden can gain from trade as long as it receives more than 1/11 POUNDS of cheese for each barrel of oil it exports to France.
Based on your answer to the last question, which of the following terms of trade (that is, price of cheese in terms of oil) would allow both Sweden and France to gain from trade?
- a. 6 barrels of oil per pound of cheese
- c. 4 barrel of oil per pound of cheese
Answer:
The Roosevelt Corollary was an extension of which of the following policies?
the gold standard
the Dawes Act
the Treaty of Paris
the Monroe Doctrine
Explanation:
The Roosevelt Corollary was an extension of which of the following policies?
the gold standard
the Dawes Act
the Treaty of Paris
the Monroe Doctrine
The Roosevelt Corollary was an extension of which of the following policies?
the gold standard
the Dawes Act
the Treaty of Paris
the Monroe Doctrine
The Roosevelt Corollary was an extension of which of the following policies?
the gold standard
the Dawes Act
the Treaty of Paris
the Monroe Doctrine
Answer:
Difference: 20,170
<u>The actual total Cost of good sold </u>is 20,170 dollars higher than budgeted COGS
<u>At unit level,</u> is 3.69 higher.
Explanation:
<u></u>
<u>Budget COGS</u>
12.43 + 8.46 + 14.29 = 35.18
Budgeted sales units x COGS
16,000 x 35.18 = 562,880
<u>Actual COGS</u>
16.12 + 8.46 + 14.29 = 38.87
Actual sales x COGS per unit
15,000 x 38.87 = 583,050
Units difference: 38.87 - 35.18 = 3.69
Total Difference: 583,050 - 562,880 = 20,170
It can be mutually advantageous for two nations to specialize in goods for which they have a relative advantage and then trade with one another. Absolute advantage is the basis of the potential gains from specialization and trade.
<h3>What does it mean for a producer to have comparative benefit?</h3>
Comparative advantage is a requirement of a producer where it is better suited for the production of one good than another good. Good A can be made more efficiently than good B, for example. This comparison is done in terms of the option costs of each good, not in terms of pure production costs.
To learn more about Comparative advantage , refer
brainly.com/question/2827889
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