Look at Exercise 33.2. Compute the opportunity costs of producing sweaters and wine in both France and
Question:
Look at Exercise 33.2. Compute the opportunity costs of producing sweaters and wine in both France and Tunisia. Who has the lowest opportunity cost of producing sweaters and who has the lowest opportunity cost of producing wine? Explain what it means to have a lower opportunity cost.
Exercise 33.2
Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the absolute advantage in producing autos? What is the opportunity cost of producing one pound of beef in Brazil? What is the opportunity cost of producing one pound of beef in the United States?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Brazil can produce 100 pounds of beef or 10 autos In contrast the United States can produce 40 pound...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
Multiple Choice Questions: 1. Assume that the opportunity cost of producing a pair of pants in the United States is 2 pounds of rice, while in China, it is 5 pounds of rice. As a result, a. The...
-
Fill in the blanks with the proper method names to deserialize an object. (Choose two.) A. writeObject in the first blank B. writeResolve in the first blank C. readObject in the first blank D....
-
Quick Fix Services, Inc. is trying to establish the standard labor cost of a typical oil change. The following data have been collected from time and motion studies conducted over the past month....
-
Royal Resort and Casino (RRC), a publicly traded company, caters to affluent customers seeking plush surroundings, high- quality food and entertainment, and all the glitz associated with the best...
-
Much of the information contained in the balance sheet is reported on a historical cost basis. This means that such assets as land are reported at the amount that was originally paid for the item...
-
Greenwood Company sold $4,000,000 of 7% first-mortgage bonds on October 1, 2003, at $3,479,683 plus accrued interest. The bonds were dated July 1, 2003; interest payable semiannually on January 1 and...
-
When you use a credit card to pay your tuition,Question content area bottomPart 1 A . you've used the credit card as money because it is a means of payment.B . you've used the credit card as money...
-
Look at Table 33.9. Is there a range of trades for which there will be no gains? Table 33.9 Country United States Mexico Total Current Shoe Production 5,000 4,000 9,000 Current Refrigerator...
-
Why does the United States not have an absolute advantage in coffee?
-
ZedCon Inc. intends to raise $10,000,000 for the purpose of expanding operations internationally. Two options are available: ¢ Plan 1: Issue $10,000,000 of 5% bonds payable due in 2024, or...
-
Let y = tan(5x + 4). Find the differential dy when x = 1 and dx = 0.4 Find the differential dy when x = 1 and dx: = 0.8
-
Draw the Hasse diagram for the following partial orderings. a. S = {a, b, c} p= {(a, a), (b, b), (c, c), (a, b), (b, c), (a, c)} b. S={a, b, c, d} p = {(a, a), (b, b), (c, c), (d, d), (a, b), (a, c)}...
-
Explain the impact of Sarbanes-Oxley on a company's internal controls. Be sure to define internal controls and discuss the basic principles for assessing internal controls.
-
Calculate the natural frequency of the systems shown in Fig.17.9(a) and (b). W AW W W W W/2 K2 1W/2 W
-
Legislation and regulations are a part of the overall functions of Human Resources. It is essential to learn the differences between these regulations and how that can show up in your career. Analyze...
-
An issue of Science News (Vol. 163, No. 22, pp. 341342) reported that the Womens Health Initiative cast doubts on the benefit of hormonereplacement therapy. Researchers randomly divided 4532 healthy...
-
Give an example of transitory income. What effect does this income have on the marginal propensity to consume?
-
(a) By taking the slope of the curve in Figure 2.60, verify that the velocity of the jet car is 115 m/s at t = 20 s. (b) By taking the slope of the curve at any point in Figure 2.61, verify that the...
-
Do Problem 3.16 again using analytical techniques and change the second leg of the walk to 25.0 m straight south. (This is equivalent to subtracting B from A-that is, finding R' = A - B). (b) Repeat...
-
The weight of an astronaut plus his space suit on the Moon is only 250 N. How much do they weigh on Earth? What is the mass on the Moon? On Earth?
-
Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on pro this risk class is 11 percent, and that the maximum allowable payback...
-
An asset being considered by Green Corporation has a 6-year life and a net present value of $100,000. At a 10% required return, what is the equivalent annuity? O $3,307. $16,666.67. O $18,760.74. O...
-
Using this feedback from course "Quantitative methods" First thing to mention, there's a couple of typos (1m instead of lm and - instead of ~). I think you should be including the interaction between...
Study smarter with the SolutionInn App