Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following table, which gives the amount of a good produced by each country. If Nigeria uses a worker, that worker can produce 18

Consider the following table, which gives the amount of a good produced by each country. If Nigeria uses a worker, that worker can produce 18 unit(s) of oil or 1 1 unit(s) of iron. If Egypt uses a worker, that worker can produce 33 unit(s) of oil or 22 unit(s) of iron. Country Oil (barrels) Iron (tons) Nigeria 18 11 Egypt 33 22 Which country has a comparative advantage in producing iron? Select the best answer. Answer Keyboard S Q Egypt Nigeria

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Microeconomics and Its Application

Authors: walter nicholson, christopher snyder

11th edition

9781111784300, 324599102, 1111784302, 978-0324599107

More Books

Students also viewed these Economics questions

Question

hoW Can neW hardWare affeCt ComPetitive strategies?

Answered: 1 week ago