Question
How to solve the comparative advantage First- Identify if it is a output or input question Second-Identify who has the ABSOLUTE ADVANTAGE Third-Identify who has
How to solve the comparative advantage First- Identify if it is a output or input question
Second-Identify who has the ABSOLUTE ADVANTAGE
Third-Identify who has a COMPARATIVE ADVANTAGE using opportunity cost
Fourth- Identify how they should specialize
It is an First- Identify if it is a output or input question
Second-Identify who has the ABSOLUTE ADVANTAGE
Third-Identify who has a COMPARATIVE ADVANTAGE using opportunity cost
Fourth- Identify how they should specialize
It is an output
Absolute Advantage-Henry 1 Deer=3/2 1 Antelope =2/3
Comparative Advantage- John 1Deer= 1 Antelope=2
Henry-Antelope John-Deer
This is ainput
Absolute advantage- Canada
Comparative advantage- Canada 1corn=4/5P Japan 4/5C
Canada-Car Canada-Plane
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