Question
The practice question below reinforces your knowledge of comparative advantage. Fill out the table below and answer the questions at the end. Numerical answers should
The practice question below reinforces your knowledge of comparative advantage. Fill out the table below and answer the questions at the end.
Numerical answers should be accurate to 2 decimal places.
Country | Logs | TVs | Opportunity cost of 1 log | Opportunity cost of 1 TV |
---|---|---|---|---|
Country AB | 100 | 200 | Answer | Answer |
Country BC | 250 | 150 | Answer | Answer |
Country AD | 200 | 300 | Answer | Answer |
Country AK | 150 | 150 | Answer | Answer |
Country BK | 120 | 160 | Answer | Answer |
Country DK | 75 | 150 | Answer | Answer |
Country DG | 80 | 100 | Answer | Answer |
Country LT | 300 | 100 | Answer | Answer |
Country KB | 200 | 160 | Answer | Answer |
Country MT | 160 | 120 | Answer | Answer |
If we compare country AB to AD, Country AB has the comparative advantage in Answer and Country AD has the comparative advantage in Answer
If we compare country AD to AK, Country AD has the comparative advantage in Answer and Country AK has the comparative advantage in Answer
If we compare country KB to LT, Country KB has the comparative advantage in Answer and Country LT has the comparative advantage in Answer
If we compare country BK to DG, Country BK has the comparative advantage in Answer and Country DG has the comparative advantage in Answer.
If we compare country AD to MT, Country AD has the comparative advantage in Answer and Country MT has the comparative advantage in Answer.
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