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RUDIKE [14]
2 years ago
7

Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can

produce 36 units of food per year or 18 units of clothing. Which of the following is true?
Georgeland has an absolute but not a comparative advantage in producing clothing.
Georgeland has both an absolute and a comparative advantage in producing clothing.
Alland has an absolute but not a comparative advantage in producing food.
Alland has both an absolute and a comparative advantage in producing food.
Business
1 answer:
bixtya [17]2 years ago
3 0

Answer:

Georgeland has an absolute but not a comparative advantage in producing clothing.

Explanation:

Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.

Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.

Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.

In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.

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Each week a soft drink machine sells x cans of soda for $0.75/soda. The cost to the owner of the soda machine for each soda is $
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Answer:

$34.8

Explanation:

Profits = sales - costs( variable costs +fixed costs)

In this case : total sales will be price $0.75 x units sold X= 0.75X

Variable costs : =$10 x units sold= $10x

Fixed cost remain $25 as they are not affected by quantity.

profits for the Week

P= (0.75x- 0.10x)-$25

Profit for the week with units sold as 92: x = 92

p= ( {0.75x92} - {0.10x92} )- $25

P= $69 - $9.2- $25

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3 0
3 years ago
Turquoise, Inc. is trying to decide whether to purchase identical inventory from one of the following suppliers: Supplier A Supp
melomori [17]

Answer:

Actual Cost of Supplier A:  $291.60

Actual Cost of Supplier B: $271.60

Explanation:

<u>Supplier A:</u>

Cost - 270

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For Supplier A, the invoice price is 270 and discount is 2/10 = 2%, so:

Purchase Discount = 270 * 0.02 = $5.4

Cost is:

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<u>Supplier B:</u>

Cost - 280

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Purchase Discount = Invoice Price * Discount

For Supplier B, the invoice price is 280 and discount is 3%, so:

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8 0
3 years ago
Carter Containers sold marketable securities, land, and common stock for $37.0 million, $13.0 million, and $35.0 million, respec
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Answer:

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