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Alex17521 [72]
3 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]3 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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Suppose you live in New York City and the government has imposed price ceilings on apartment rental rates. You want to rent an a
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The correct answer is letter "C": a tie-in sale.

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Which of the following would an economist most likely classify as a need
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It is D. A part-time job to earn extra money.
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Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $632,000 an
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a) Stockholders' equity  = $411,690

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Proper decorum and good business etiquettes are essential components of business ethics and social responsibility because they:

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Social responsibility refers to the cooperation that should exist among individuals and organizations for the benefit of the community.

Thus, Proper decorum and good business etiquettes remain essential components of business ethics and social responsibility.

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