Solution-Country production possibility curve

Country production possibility curve

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Reference no: EM131220113

Suppose the US and Japan have the following production possibility tables (final output combinations):

Japan		United States
Bolts of Cloth	Tons of Wheat	Bolts of Cloth	Tons of Wheat
1000	0	500	0
800	100	400	200
600	200	300	400
400	300	200	600

200	400	100	800
0	500	0	1000
1000	0	500	0

a. Draw each country's production possibility curve.

b. In what good does the United States have a comparative advantage? What about Japan?

c. Is there a possible trade that benefits both countries? If there are several such possible situations, please discuss ONLY one.

d. Please demonstrate your answer to point c above graphically (be sure to properly label your graph).

Reference no: EM131220113

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Country production possibility curve

Reference no: EM131220113

Reference no: EM131220113

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