2. Refer to the table below to answer the following questions. These two countries are producing textiles

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2. Refer to the table below to answer the following questions.

These two countries are producing textiles and wheat using equal amounts of resources.

Weekly output per worker Country A Country B Bushels of wheat 15 10 Units of textiles 60 60

a. What is the opportunity cost of producing a bushel of wheat for each country?

b. Which country has the absolute advantage in wheat production?

c. Which country has the comparative advantage in textile production? Explain.

(5 points)

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Krugmans Economics For AP

ISBN: 9781464122187

2nd Edition

Authors: Margaret Ray, David Anderson

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Question Posted: Oct 02, 2024 11:00 AM

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2. Refer to the table below to answer the following questions. These two countries are producing textiles

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Krugmans Economics For AP

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