<span>Domestic products are generally cheaper due to lower shipping cost and few to no additional tariffs are levied on those goods. A side note: Since 2002 in the EU 'Feta' has had a protected designated origin; meaning that only cheese produced in a particular way from particular regions of Greece can be labeled for sale as 'feta.'</span>
Answer:
$96 per day
Explanation:
Competitive advantage refers to producing or doing something more efficiently than others. Susan has a competitive advantage in picking coffee beans as she can pick 4 pounds of coffee beans in an hour as compared to nuts which she can only pick 2 in an hour. She also has an advantage in picking coffee beans over Tom who can only pick 2 pounds of coffee beans while taking the same time as Susan do for 4 pounds.
Tom, on the other hand, has a competitive advantage in picking nuts as he can pick twice the amount of nuts than Susan can pick in an hour.
If both were to specialize in their competitive advantage,
- Susan can pick, 4 × 6 = 24 pounds of coffee beans per day
- Tom can pick, 4 × 6 = 24 pounds of nuts per day
So, if they sell their produces at the world market, they can collectively earn a total of $96 per day.
- Total Earning = 24 pounds coffee beans × $2 + 24 pounds of nuts × $2 = $96
Answer:
See explanation Section
Explanation:
See the image to get the appropriate answer.
Interest on the loan and homeowner's insurance and property taxes
Answer:
a. 0.23; No, the city does not have a competitive advantage in this industry
Explanation:
Calculation to determine the location quotient for Music City and whether this city has a competitive advantage in the entertainment industry
Location quotient for Music City= (3020/ 656,785)/ (2,160,970/ 106,201,232)
Location quotient for Music City=0.004598/0.020347881
Location quotient for Music City= 0.225
Location quotient for Music City= 0.23 (Approximately)
Based on the above calculation the city does NOT have a competitive advantage in this industry.
