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Micro 1.4-PPF, Absolute Advantage, Opp. Cost

Last updated almost 2 years ago

6 Nsɛmmisa

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

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Asemmisa {{asɛmmisaAhyɛnsode}}

1.

Who has absolute advantage in cloth? Explain.

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2.

Who has absolute advantage in wine? Explain.

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3.

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

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4.

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

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5.

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

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6.

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