Calculate the gains from trade, Mathematics

Assignment Help:

Table shows the productivity for the countries Pin and Pang.

2150_Calculate the Gains from Trade.png

1) If the working population of Pin and Pang are both 6 million, divided equally between the two industries in each country, how many machines and bread are currently being produced in Pin and Pang?

2)    If the two countries decide to specialize, in which product does each country have a comparative advantage?

3)     If the two countries were to totally specialize, what would be the resulting  combined totals?

4) What are the gains from trade?


Related Discussions:- Calculate the gains from trade

BIOMATH, Ask quHarvesting prevents the population size of a species from at...

Ask quHarvesting prevents the population size of a species from attaining its natural carrying capacity. We can add harvesting to the logistic model by assuming that the per capita

Range of f(x) =4^x+2^x+1 is, Taking 2^x=m and solving the quadratic for get...

Taking 2^x=m and solving the quadratic for getting D>=0 we get range= [3/4 , infinity )

Error in measurement, what is actual error and how do you find percentage e...

what is actual error and how do you find percentage error

Example to understanidng of multiplication, 6-year-old Rahul wasn't able to...

6-year-old Rahul wasn't able to understand multiplication when it was thrust upon him in school. His mother discussed this problem with some of us. On the basis of suggestions that

Differential calculus and probability, Josephine is constructing an open bo...

Josephine is constructing an open box by cutting the squares off the corners of a sheet of paper sized 20cm by 16cm. She is considering options of 3cm, 4cm and 5cm squares in order

Compute the regular expression, 1. Consider the following context free gram...

1. Consider the following context free grammar G with start symbol S (we write E for the empty string, epsilon): S ---> bB | aSS A ---> aB | bAA B ---> E | bA | aS a. D

Write Your Message!

Captcha
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