1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
emmasim [6.3K]
3 years ago
5

Suppose that Canada can produce 15units of timber or 3 units of grain. Suppose that Mexico can produce 6 units of timber or 2 un

its of grain. Which of the following is CORRECT?
a. Canada has a comparative advantage in grain production.
b. Mexico has a comparative advantage in grain production.
c. The countries would find trade mutually beneficial at a trading ratio of 1 grain for 2 timber.
d. Mexico has an absolute advantage in timber production.
Business
1 answer:
Alja [10]3 years ago
6 0

Answer: B. Mexico has a comparative advantage in grain production.

Explanation:

Comparative advantage simply means when an economy can produce a good at a lower opportunity cost than another economy.

From the information given, since Canada can produce 15units of timber or 3 units of grain. Therefore, 1 grain = 15/3 = 5 timber

On the other hand, Mexico can produce 6 units of timber or 2 units of grain. Therefore, 1 grain = 6/2 = 3 timber.

Therefore, Mexico haa a comparative advantage in grain based on the above.

You might be interested in
Refer to Exhibit 9.3, which shows the cost and revenue curves for a non-discriminating monopolist. The total cost incurred by th
Gnom [1K]

Answer: $19,800

Explanation;

The Monopolist will maximize output at the point where Marginal Revenue equals Marginal Cost because at this point all resources are being fully utilized.

Total Cost = Average Total Cost * Quantity produced

At the point where MR=MC, the quantity produced is 1,100 units.

The Average Total Cost tallying with this is $18 per unit.

Total Cost = 18 * 1,100

= $19,800

3 0
3 years ago
Ben says that "an increase in the tax on beer will raise its price." Holly argues that "taxes should be increased on beer becaus
Grace [21]

Answer:

B. Holly's statement is normative, but Ben's is positive.

Explanation:

Positive statements are based on objective deduction of what is, or was. It is based on facts. Ben's comment "an increase in the tax on beer will raise its price", is an example of positive statement.

Normative statements are subjective and based on individual values and judgement. In her statement Holly appears to be biased against drinking much. She says "taxes should be increased on beer because college students drink too much." Is a normative statement.

7 0
3 years ago
In Dart Co.'s Year 2 single-step income statement, as prepared by Dart's controller, the section titled "Revenues" consisted of
Amanda [17]

Answer:

  • what amount should Dart report as total revenues?

B. $250,000

Explanation:

The option B is the answer because the others option are not part of revenues during the year to the single step income.

The recovery of accounts written off are not part of revenues, it's an adjustment to the allowance for uncollectible accounts.

Then, the Purchase discounts is not part of revenues either, this kind of discounts goes directly to the valuation of inventory and then to the cost of goods.

8 0
3 years ago
Pina Colada Corp. holds Tamarisk, Inc. $44400, 120-day, 15% note. The entry made by Pina Colada Corp. when the note is collected
Dafna1 [17]

Answer and Explanation:

The journal entry is shown below

Cash  $46,620

     To Notes Receivable $44,400

     To Interest receivable ($44,400 × 15% × 120 days ÷  360 days)

(Being the cash received is recorded)

Here we debited the cash as it increased the assets and at the same time we credited the interest receivable and the note receivable as it decreased the assets

The same is to be considered

7 0
3 years ago
How many references does an employer usually want?
creativ13 [48]
I think at least 3-4





Dudhdhdhdhxhxjc
6 0
3 years ago
Other questions:
  • For the past five years, the RS Company has produced and sold electronic magnets to chemistry labs throughout the United States.
    11·1 answer
  • In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year
    8·2 answers
  • 17 Select the correct answer. Which characteristic best describes organizational buying? A. The market contains huge numbers of
    6·1 answer
  • Financial data for Stirling Inc. for last year are as follows:
    12·1 answer
  • If you invest $750 every six months at 8 percent compounded semi-annually, how much would you accumulate at the end of 10 years?
    6·1 answer
  • Assume that the banking system has total reserves of $100 billion. Assume also that required reserves are 10 percent of checking
    12·2 answers
  • Who at Universal Studios hates FORBIDEN JURNY?
    9·1 answer
  • The factor-price equalization theory and transportation costs Which of the following statements about the factor-price equalizat
    15·1 answer
  • Hewitt Company expects cash sales for July of S15.000, and a 22% monthly increase during August and September. Credit sales of $
    12·1 answer
  • In Lean/JIT systems the burden of ensuring quality of production inputs from vendors shifts from the _____________ to the ______
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!