Page 1 of 1
1. a. Consider 2 countries (the United States and the United Kingdom) that use input such as labor to produce 2 differen
Posted: Wed Jul 06, 2022 6:23 pm
by answerhappygod
- 1 A Consider 2 Countries The United States And The United Kingdom That Use Input Such As Labor To Produce 2 Differen 1 (116.14 KiB) Viewed 21 times
1. a. Consider 2 countries (the United States and the United Kingdom) that use input such as labor to produce 2 different goods: cloth and food. Particulars Food Cloth 10 30 Define comparative advantage. Determine how should each country make optimize the use of labor, that is, by producing the good in which they have a comparative advantage. b. Determine which country will trade for which product and given that food that can be produced by using equal scare resources when both countries decide to apply a comparative advantage technique. United Kingdom United States 20 30