Which country has an absolute advantage of producing wheat

Assignment Help Microeconomics
Reference no: EM13245193

Labor hours required to produce one unit of cloth in the united kingdom is 6. The labor hours required to produce one unit of cloth in the united states is 5. Which country has an absolute advantage of producint wheat? In producing cloth?

Reference no: EM13245193

Questions Cloud

Different classes of people that you find in north-south : Imagine you are touring the United States in 1836. You compose an essay describing what you have seen. Based upon this trip, how would you compare and contrast the economies, societies, and cultures of the northern and southern states, east of the Mi..
What price should be set for each group : a) If the market cannot be segmented, what is the uniform monopoly price b) If the night club can charge according to whether or not the customer is a student but is limited to linear pricing
Find out the photon energy and the wavelength : In some cases a Br-Br bond can be broken by the absorption of photons of light energy. Br-Br bond energy is 192 kj/mol determine the photon energy and the wavelength (in nanometers) associated with breaking this bond.
Use normal approximation to binomial to find the probability : Of all 3 - 5 year old children, 71% are enrolled in school. If a sample of 400 children are randomly selected, what is the probability that at least 300 will be enrolled in school.
Which country has an absolute advantage of producing wheat : Labor hours required to produce one unit of cloth in the united kingdom is 6. The labor hours required to produce one unit of cloth in the united states is 5. Which country has an absolute advantage of producint wheat In producing cloth
Explain what is the ph halfway to the equivalence point : What is the pH halfway to the equivalence point for the titration of 0.20 M CH3NH2 with 0.20 M HCl? (Kb of CH3NH2 = 4.4 x 10-4)
What is the opportunity cost of producing a unit of wheat : The labor hours required to produce one unit of wheat in the United kingdom 2. The labor of producing one unit of wheat in the United states is 1. What is the opportunity cost of producing a unit of wheat in the United kingdom
Find the limits for the middle : Find the probability that the age of a randomly selected CEO will satisfy each condition - The average teacher's salary in timbucktoo is $29,863. Assume a normal distribution with a standard deviation of $5000.
Find the charge-to-mass ratio of the particle : A charged particle moves through a velocity selector at a constant speed in a straight line, Find the charge-to-mass ratio of the particle

Reviews

Write a Review

Microeconomics Questions & Answers

  Indicate the importance of the major component of population

Discuss and indicate the importance of the major components of population growth from 1800 to the present. Give socio-economic explanations for the major changes in each component.

  The arc price elasticity implied by the initial response

Calculate the arc price elasticity implied by the initial response to Z-Best's price increase and calculate the effective price reduction resulting from the coupon promotion.

  What might shift the aggregate-demand curve

What might shift the aggregate-demand curve to the left Use the model of aggregate demand and aggregate supply to trace through the short-run and long-run effects of such a shift on output and the price level.

  Explain the pros and cons of online research

Online research seems to be the best. They all have pros and cons of some sort. I would use online research to reach a certain demographic and have links from sites that my target market would visit. The benefits would be to gain information us..

  What is the expression for metal

What is the expression for METAL,K given this production function?

  Keep money or enter into the market?

You have a 0.35 probaability that you can turn your current $15,000 into $50,000 and a 0.65 probability that fierce competition will drive you to ruin, losing all your money.

  Difference between accounting profit and economic profit

Explain the difference between accounting profit and economic profit. Include discussion of the distinction between explicit and implicit costs and how they relate to economic cost and opportunity cost.

  What is the deadweight loss arising from monopsony

How many nurses does National Hospital employ, and what wage will National pay its nurses, what is the deadweight loss arising from monopsony?

  What will be the excess demand for apartments

Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P

  How much does marginal revenue change when add more labor

The marginal revenue product of labor is: a. how much labor can be purchased with the revenue from the sale of one more unit of the good. b. how much does the marginal revenue change when you add more labor. c. the same as the marginal revenue produc..

  When the price of a commodity falls

When the price of a commodity falls by Rs.2 per unit,its quantity demanded increases by 10 units. Its price elasticity of demand is (-)1. Calculate its quantity demanded at the price before change which was Rs.10 per unit. You may change Rupee[In..

  What specific factors might have accounted for the event

A country's long -run equilibrium price level has increased, but the position of its aggregate demand schedule has not changed. what has happened what specific factors might have accounted for this event

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd