Absolute advantage in soya beans production

Assignment Help Basic Computer Science
Reference no: EM132324927

Consider US and China who can both produce soya beans and mobile phones. In a year, the US can produce 80 billion tonnes of soya beans or it can produce 400 million mobile phones. In a year, China can produce 50 billion tonnes of soya beans or it can produce 400 million mobile phones.

a. Explain which country has the absolute advantage in soya beans production and which country has the absolute advantage in mobile phone production?

b. What is the US' opportunity cost of producing 1 billion tonnes of soya beans? What is China's opportunity cost of producing 1 billion tonnes of soya beans? Explain which country has the comparative advantage in soya beans production?

c. Explain which country should specialise in soya beans production and which country should specialise in mobile phone production?  

d. What is the maximum (in terms of tonnes of soya beans) that the US would be willing to pay for China's mobile phones? What is the minimum (in terms of tonnes of soya beans) China would accept for its mobile phones? Will they trade and if so, which country benefits from the trade?

Reference no: EM132324927

Questions Cloud

What is the amount of pension expense for 2018 : The service cost component of pension expense for 2018 is $300000 and the amortization of prior service cost due to an increase in benefits is $68000.
New keynesian theory rather than classical theory : Why would misperception theory results resemble the results of New Keynesian theory rather than classical theory?
What amount should be reported for pension expense in 2018 : Presented below is information related to Cullumber Inc. pension plan for 2018. What amount should be reported for pension expense in 2018?
How can a basic understanding of concepts : How can a basic understanding of these concepts, as well as of managerial economics, enhance the managerial decision-making process?
Absolute advantage in soya beans production : Explain which country has the absolute advantage in soya beans production and which country has the absolute advantage in mobile phone production?
What is the amount of the pension liability : What is the amount of the pension liability that should be shown on Carla Vista' December 31, 2018 balance sheet?
Which attack phases is most important to understand : Our text describes the five phases of an attack, and we'll be discussing all those phases in this course. Although the phases from the text represent.
How to prepare statement detailing the distribution of cash : Assume that after realising the assets and paying all creditors, the liquidator had $50 000 cash available to distribute to shareholders.
Describe why the team performed so well or so poorly : Discuss the team dynamics for a highly effective or ineffective team of which you were a member. Can you explain why the team performed so well or so poorly?

Reviews

Write a Review

Basic Computer Science Questions & Answers

  Identifies the cost of computer

identifies the cost of computer components to configure a computer system (including all peripheral devices where needed) for use in one of the following four situations:

  Input devices

Compare how the gestures data is generated and represented for interpretation in each of the following input devices. In your comparison, consider the data formats (radio waves, electrical signal, sound, etc.), device drivers, operating systems suppo..

  Cores on computer systems

Assignment : Cores on Computer Systems:  Differentiate between multiprocessor systems and many-core systems in terms of power efficiency, cost benefit analysis, instructions processing efficiency, and packaging form factors.

  Prepare an annual budget in an excel spreadsheet

Prepare working solutions in Excel that will manage the annual budget

  Write a research paper in relation to a software design

Research paper in relation to a Software Design related topic

  Describe the forest, domain, ou, and trust configuration

Describe the forest, domain, OU, and trust configuration for Bluesky. Include a chart or diagram of the current configuration. Currently Bluesky has a single domain and default OU structure.

  Construct a truth table for the boolean expression

Construct a truth table for the Boolean expressions ABC + A'B'C' ABC + AB'C' + A'B'C' A(BC' + B'C)

  Evaluate the cost of materials

Evaluate the cost of materials

  The marie simulator

Depending on how comfortable you are with using the MARIE simulator after reading

  What is the main advantage of using master pages

What is the main advantage of using master pages. Explain the purpose and advantage of using styles.

  Describe the three fundamental models of distributed systems

Explain the two approaches to packet delivery by the network layer in Distributed Systems. Describe the three fundamental models of Distributed Systems

  Distinguish between caching and buffering

Distinguish between caching and buffering The failure model defines the ways in which failure may occur in order to provide an understanding of the effects of failure. Give one type of failure with a brief description of the failure

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