The table below shows how many T-shirts or jeans can be made daily by one worker in Aquarius and Capricorn. Aquarius Capricorn T-Shirts 50
The table below shows how many T-shirts or jeans can be made daily by one worker in Aquarius and Capricorn. Aquarius Capricorn T-Shirts 50 40 Jeans 5 2 a. Aquarius is more efficient at producing T-shirts and Aquarius opportunity costs and terms of trade, below, rounded to 2 decimal places. is more efficient at producing jeans. Enter your responses for 01 jeans 10 T-shirts and the opportunity cost of 1 T-shirt is 20] T-shirts and the opportunity cost of 1 T-shirt is [ 005 jeans. b. In Aquarius the opportunity cost of 1 pair of jeans is [ In Capricorn the opportunity cost of 1 pair of jeans is c. On the basis of comparative advantage (Click to select) should specialize in the production of T-shirts and (Click to select)should specialize in the production of jeans. d. The terms of trade must be somewhere between 1 pair of jeans traded for [ 10 T-shirts in Aquarius and 1 pair of jeans traded for 20 T-shirts in Capricorn. e. Suppose there are 200,000 workers in Aquarius and 300,000 workers in Capricorn, and before trade, half of each country's labour force makes each good. As a result of specialization and trade there is a gain in the two countries' output of both products with more T-shirts and more jeans. The table below shows how many T-shirts or jeans can be made daily by one worker in Aquarius and Capricorn. Aquarius Capricorn T-Shirts 50 40 Jeans 5 2 a. Aquarius is more efficient at producing T-shirts and Aquarius opportunity costs and terms of trade, below, rounded to 2 decimal places. is more efficient at producing jeans. Enter your responses for 01 jeans 10 T-shirts and the opportunity cost of 1 T-shirt is 20] T-shirts and the opportunity cost of 1 T-shirt is [ 005 jeans. b. In Aquarius the opportunity cost of 1 pair of jeans is [ In Capricorn the opportunity cost of 1 pair of jeans is c. On the basis of comparative advantage (Click to select) should specialize in the production of T-shirts and (Click to select)should specialize in the production of jeans. d. The terms of trade must be somewhere between 1 pair of jeans traded for [ 10 T-shirts in Aquarius and 1 pair of jeans traded for 20 T-shirts in Capricorn. e. Suppose there are 200,000 workers in Aquarius and 300,000 workers in Capricorn, and before trade, half of each country's labour force makes each good. As a result of specialization and trade there is a gain in the two countries' output of both products with more T-shirts and more jeans.
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To answer question e we need to compare the production output before and after specialization and trade Here is a stepbystep solution 1 Determine the ...See step-by-step solutions with expert insights and AI powered tools for academic success
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