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Micro 1.4-PPF, Absolute Advantage, Opp. Cost

Posljednje ažuriranje almost 2 years ago

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For the following, assume producer 1 uses technology 1 and producer 2 uses technology 2.

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Pitanje 1

1.

Who has absolute advantage in cloth? Explain.

Pitanje 2

2.

Who has absolute advantage in wine? Explain.

Pitanje 3

3.

What is the opportunity cost for France to make 1 Cloth?

Pitanje 4

4.

Which technology method has the absolute advantage in Good 1? Explain.

Pitanje 5

5.

Which technology method has the absolute advantage in Good 2? Explain.

Pitanje 6

6.

What is the per unit opportunity cost for Technology 2 to move from B' to D'?