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Ymorist [56]
3 years ago
10

Suppose that a worker in Boatland can produce either 5 units of wheat or 25 units of fish per year, and a worker in Farmland can

produce either 25 units of wheat or 5 units of fish per year. There are 10 workers in each country. Political pressure from the fish lobby in Farmland and from the wheat lobby in Boatland has prevented trade between the two countries on the grounds that cheap imports would kill the fish industry in Farmland and the wheat industry in Boatland. As a result, Boatland produces and consumes 25 units of wheat and 125 units of fish per year while Farmland produces and consumes 125 units of wheat and 25 units of fish per year. If the political pressures were overcome and trade was to occur, each country would completely specialize in the product in which it has a comparative advantage. If trade were to occur, the combined output of the two countries would increase by
Business
1 answer:
hram777 [196]3 years ago
4 0

Answer: 200 units

Explanation:

A country has a comparative advantage in producing a good if the opportunity cost of producing that good is lower in that country as compared to other country. If a nation has comparative advantage in the production of some good then it is specialized in the production of that good.

Once the political pressure is removed and trade will take place,

The Boatland has a comparative advantage in the production of fish. Hence, Boatland is trading in fish is as follows:

125 -25 = 100

On the other hand,  Farmland has a comparative advantage in the production of wheat. Hence,  Farmland is trading in fish is as follows:

125 -25 = 100

Hence, the combined output of the two countries would increase by 100 + 100 = 200 units

100 units of fish and 100 units of wheat

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Say a certain manufacturing industry has 63.1 thousand jobs in 2008, but is expected to decline at an average annual rate of 1.7
ss7ja [257]

Answer:

so correct option is  b. -27%

Explanation:

given data

job manufacturing industry = 63.1 thousand

annual rate = 1.7 thousand

time period = 10 year

solution

the total loss of jobs over the 10 years will be:

total loss = 1.7 × 10

total loss = 17  thousand jobs

so that the percent change will be

percent change  =  \frac{-17}{63.1}\times100

percent change  =  -27 %

so correct option is  b. -27%

5 0
3 years ago
Read 2 more answers
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krek1111 [17]

Answer: Therefore, we should make her an offer at that salary

Explanation:

Based on the information given in the question,

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Highest salary = $110,000

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= cost of time + cost of travel

= $750 + $4250

= $5000

Since the cost of conducting the additional interview is more than the expected benefit, therefore the interviewee should be hired rather than continuing the interviewing process.

Therefore, we should make her an offer at that salary.

7 0
3 years ago
Data for Shelby Company for the current year is as follows:
maks197457 [2]

Answer:

Cost of goods sold is $7,700

Gross Profit is $2,300

Explanation:

Cost of goods sold is Cost of goods available for sale less ending merchandise inventory. Ending merchandise understated by $300 means ending merchandise was accounted $300 less. So, $300 need to be added to ending merchandise. No ending merchandise is $2,300 (2,000 + 300)

Cost of goods sold will be 10,000 - 2,300 = $7,700

Gross profit is sales revenue less cost of goods sold which is computed as shown below:

Gross profit = 10,000 - 7,700

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6 0
3 years ago
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noname [10]

Answer and Explanation:

The journal entries are as follows:

1. Petty cash A/c Dr $150

              To Cash A/c $150

(Being the establishment of petty cash is recorded)

2.

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3 0
3 years ago
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Fantom [35]

Answer:

I believe it is A

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4 0
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