Which country would benefit from trade

Assignment Help Business Economics
Reference no: EM13851794

Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers.  

If these countries were open to trade, which country would export shirts? Give a specific numerical example and show it on your graphs. Which country would benefit from trade?

Reference no: EM13851794

Questions Cloud

How much is the interest : You borrow $500 from a family member and agree to pay it back in 6 months. Because you are part of the family, you are only being charged simple interest at the rate of 0.5% per month. How much will you owe after 6 months? How much is the interest?
What is utility at the optimal level of consumption : Suppose an individual’s utility is expressed as U=x^(1/2)y^(1/2)and their constraint is represented by the following: 2x+3y=B=100. What level of x and y should the individual consume to maximize utility? What is utility at the optimal level of consum..
Explain the rationale behind why the reserve bank might : Explain the rationale behind why the Reserve Bank might intervene and lower interest rates.
What price of computers the two countries might trade : Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Explain at what price of computers (in terms of shirts) the two countries might trade.
Which country would benefit from trade : Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. If these countries were open to trade, which country would export shirts? Which country would benefit from t..
Explain the controversy in the courts : Explain the controversy in the courts concerning the use of real-time, cell-site searching in order to track the location of a cell phone's user
Comparative advantage in the production of shirts : Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Who has the comparative advantage in the production of shirts? What about for computers?
What are financial markets : What are financial markets. why do they exist
Analyzing a visual text for messages about gender : Analyzing a Visual Text for Messages about Gender

Reviews

Write a Review

Business Economics Questions & Answers

  Qsuppose a firms production function is q2kl2-l3and its

q.suppose a firms production function is q2kl2-l3and its quantity of capital is fixed at k6 in the short-run.a. find

  Illustrate what is the likely impact of these two events

He proposed an increased in ethanol produced from corn and the stalks and leaves from corn and other grasses. Illustrate what is the likely impact of these two events on food prices in the United States.

  Calculate the front end debt-to-income ratio

Given the following information, calculate the front end debt-to-income (DTI) ratio:

  Us imports oil at the world price

US imports oil at the world price, $55 per barrel. The domestic supply curve in barrels per day is S = 2500000 + 250000P with P in dollars. Domestic demand curve is D = 70,000,000 - 500000P. Draw the US demand and supply curves for oil and indicate h..

  Determine market demand function

Suppose the quantity of good X demanded by individual 1 is given by X1 = 10 ?? 2PX + 0:01I1 + 0:4PY and the quantity of X demanded by individual 2 is X2 = 5 ?? PX + 0:02I2 + 0:2PY a) What is the market demand function for total X (= X1+X2) as a fun..

  Trade some of those noodles to italy in exchange for wine

In which of the following cases should the United States produce more noodles than it wants for its own use and trade some of those noodles to Italy in exchange for wine.

  What is the efficient number of shepherds at the meadow

A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepherd who uses the meadow reduces the number of sheep that can be maintained by one per shepherd. What are the net benefits to society of this outcome? What is the efficient ..

  What is the after-tax payback period for this investment

The saving in manufacturing costs, owing to the special tools, is estimated to be $150,000 per year for 5 years. Assume MACRS depreciation for the special tools and a 39% income tax rate. What is the after-tax payback period for this investment?

  What is the firms revenue function

What is the firms revenue function? Graph this function. Give a plausible reason why a firms demand might look like this.

  Using the midpoint formula-what is the elasticity of demand

Suppose the demand for oranges in the U.S. is: P = 5.35 - .012 Q. Where Q is the quantity demanded for oranges in the U.S. (measured in millions of boxes per year) and P is the price per box.

  Example of moral hazard

Which of the following is example of moral hazard?

  Evalute one opportunity for kuddler fine foods

Evalute one opportunity for Kuddler Fine Foods that requires a business management decision.

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