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valentina_108 [34]
3 years ago
5

Absolute v. comparative advantage activity this chart shows how many units of tractors and cotton workers can produce in the uni

ted states and canada. output of a worker in one week spain bolivia tractors 50 units 30 units cotton 120 units 120 units 1. the absolute advantage in tractor production is held by ________________. 2. the absolute advantage in cotton production is held by ________________. 3. what is the opportunity cost in spain of producing one unit of tractors? (remember to quote this in terms of what was given up.)
Business
1 answer:
goldenfox [79]3 years ago
4 0

Answer: a). Spain

b). none

c). 2.4

Explanation: a). Absolute advantage occurs when a country produces more of a good than the other country. In this case, Spain produces 50 units of Tractors while, Bolivia produces only 30 units of Tractors. Thus, Since Spain is producing more it has an absolute advantage in Tractors.

b). Both the countries are producing equal units of Cotton. Thus, we can say that none of them has an absolute advantage in cotton production.

c. Opportunity cost is the cost of the lost alternative. When Spain produces Tractors it is sacrificing production of Cotton. So, opportunity cost on 1 unit of Tractor will be,

Opportunity cost = \frac{120}{50} =2.4

Thus, 2.4 units of cotton which is given up is the opportunity cost of Spain for producing 1 unit of Tractor.

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Why does a comma need to follow the word rain in this sentence?this is the following question, The weather guy said that it was
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3 years ago
Explain why the sale of used goods is not included in GDP.
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Used goods are not included in the current year GDP, as they were already included in the year that they were produced. GDP stands for Gross Domestic Product, and includes the values of goods and services created that year in that specific country alone.

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Alex managers a team of several professional. He is cognizant that he needs to be aware of how stress might present in his workf
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The correct answer is E.

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The correct option is E.

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7 0
2 years ago
Lance, Inc. has sales of 9,000 units. The contribution margin per unit is $32 and fixed costs total $120,000. Lance's profit is
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With sales of 9,000 units, contribution margin per unit of $32 and fixed costs total of $120,000, Lance's profit is $168,000.

<h3><u>What is contribution margin?</u></h3>
  • A gross or per-unit basis might be used to express the contribution margin.
  • It indicates the additional revenue made for each product or unit sold after the variable element of the business's costs have been subtracted.
  • The selling price per unit less the variable cost per unit is the contribution margin.
  • The metric, also known as dollar contribution per unit, shows how a specific product affects the company's overall earnings.

Contribution margin offers a means of demonstrating the potential for profit of a specific product being offered by a business and displays the percentage of sales that goes toward paying the business' fixed costs. Profit is the amount that remains after fixed expenses have been paid.

Number of units sold = 9,000.

Contribution margin per unit = $32.

Expenses = $32 × 9000 = $2,88,000.

Profit = $2,88,000 - $120,000 = $1,68,000.

Know more about contribution margin with the help of the given link:

brainly.com/question/14950546

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