Assume that Colombia gives up three motorcycles for each ton of coffee it produces, while Bolivia gives up seven motorcycles for

Question

nirvana33 [79]

3 years ago

10

Assume that Colombia gives up three motorcycles for each ton of coffee it produces, while Bolivia gives up seven motorcycles for

each ton of coffee it produces. Colombia has a comparative advantage in _____ production and should specialize in

Social Studies

1 answer:

tatuchka [14] · Answer 1 · 2022-03-07T04:51:29+03:00

Answer:

coffee

Explanation:

According to my research on macroeconomics, I can say that based on the information provided within the question Colombia has a comparative advantage in coffee production and should specialize in coffee production. This is because Colombia has a 3:1 ratio of motorcycles to coffee production while Bolivia has a 7:1, therefore Colombia is able to produce more tons of Coffee with a minimum amount of resources.

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