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Alex17521 [72]
2 years ago
7

Develop an arithmetic example that illustrates how a nation could have an absolute disadvantage in the production of two goods a

nd still have a comparative advantage in the production of one of them.
Assume that by devoting all of its resources to the production of steel, France can product 40 tons. By devoting all of its resources to televisions, France can produce 60 televisions. Comparable figures for Japan are 20 tons of steel and 10 televisions. In this example, France has an absolute advantage in the production of steel and televisions. France has a comparative advantage in televisions.
Business
1 answer:
zaharov [31]2 years ago
6 0

Answer:

Comparative advantages result form lower opportunity costs.

  • France's opportunity cost of producing steel instead of TVs = 60 / 40 = 1.5 TVs per ton of steel
  • France's opportunity cost of producing TVs instead of steel = 40 / 60 = 0.67  tons of steel per TV

  • Japan's opportunity cost of producing steel instead of TVs = 10 / 20 = 0.5 TVs per ton of steel
  • Japan's opportunity cost of producing TVs instead of steel = 20 / 10 = 1  tons of steel per TV

France has a comparative advantage in the production of TVs (0.67 < 1), but Japan has a comparative advantage in the production of steel (0.5 < 1.5)

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The person who receives financial protection from a life insurance plan is called a what?
Marina CMI [18]
The person who receives financial protection from a life insurance plan is called a Beneficiary

3 0
3 years ago
Last year's asset turnover ratio was 2.0. Sales have increased by 25% and total assets have increased by 10% since that time. Wh
Dmitriy789 [7]

Answer: d. 2.27

Explanation:

Asset Turnover = Total sales / Average Assets

Last years turnover ratio was 2.0 so assume Sales were $20 and Assets were $10 which would give the turnover of 2.0

The new turnover would be;

= (20 * 1.25)/(10 * 1.1)

= 25/11

= 2.27

6 0
2 years ago
Solving for dominant strategies and the Nash equilibrium Suppose Nick and Rosa are playing a game in which both must simultaneou
slava [35]

Answer:

The only dominant strategy in this game is for <u>NICK</u> to choose <u>RIGHT</u>. The outcome reflecting the unique Nash equilibrium in this game is as follows: Nick chooses <u>RIGHT</u> and Rosa chooses <u>RIGHT</u>.

Explanation:

                                                  ROSA

                                     left                          right

                                    4 /                            6 /

                left                  3                              4

NICK                                                      

               right             6 /                             7 /

                                       7                               6

Rosa does not have a dominant strategy since both expected payoffs are equal:

  • if she chooses left, her expected payoff = 3 + 7 = 10
  • if she chooses right, her expected payoff = 4 + 6 = 10

Nick has a dominant strategy, if he chooses right, his expected payoff will be higher:

  • if he chooses left, his expected payoff = 4 +6 = 10
  • if he chooses right, his expected payoff = 6 + 7 = 13

The only possible Nash equilibrium exists if both Rosa and Nick choose right, so that their strategies are the same, resulting in Rosa earning 6 and Nick 7.

8 0
3 years ago
Given the following information, determine the cost of goods manufactured and the cost of goods sold for the year ended December
natulia [17]

Answer:

$731,000 and $684,000

Explanation:

The computations are shown below:

For cost of goods manufactured    

= Direct materials used + Direct labor cost + Manufacturing overhead incurred + opening work-in-process inventory - closing work-in-process inventory    

= $271,000 + $126,000 + $359,000 + $193,000 - $218,000

= $731,000

For cost of goods sold

= Opening finished goods Inventory + Cost of goods manufactured - Ending finished goods Inventory

= $395,000 + $731,000 - $442,000

= $684,000

4 0
3 years ago
Country a has a growth rate of 4.7​% per year. the population is currently 4 comma 671​,000, and the land area of country a is 1
Sauron [17]

For this case we have a function of the form:

y = A * (b) ^ x

Where,

A: initial population

b: growth rate

x: time in years

Substituting values we have:

y = (4,671,000) * (1,047) ^ x

By the time there is one person for each square yard of land we have:

10,000,000,000 = (4,671,000) * (1,047) ^ x

From here, we clear x.

We have then:

(1,047) ^ x = (10000000000) / (4671000)\\(1,047) ^ x = 2140.9\\log1.047 ((1.047) ^ x) = log1.047 (2140.9)\\x = 167 years

Answer:

There will be one person for every square yard of land after:

x = 167 years

7 0
3 years ago
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