Question
The table below describes the production possibilities of two fashion cities The production per worker and per hour for both cities is as follows: Coats
The table below describes the production possibilities of two fashion cities
The production per worker and per hour for both cities is as follows:
| Coats (number of units) | Shoes (number of units) |
City A | 24 | 24 |
City B | 16 | 4 |
Select a good answer to complete table one
Table1
| Country A | Country B |
Absolute advantage |
|
|
The opportunity cost of shoes |
|
|
The opportunity cost of Coats |
|
|
Comparative advantage |
|
|
Imports |
|
|
Exports |
|
|
Select one:
a.
Country A | Country B | |
Absolute advantage | none | both |
Opportunity cost of shoes | 0.67 | 6 |
Opportunity cost of Coats | 1.49 | 0.16 |
Comparative advantage | shoes | coats |
Imports | shoes | coats |
Exports | coats | shoes |
b.
Country A | Country B | |
Absolute advantage | Both | none |
Opportunity cost of shoes | 4 | 1 |
Opportunity cost of Coats | 0.25 | 1 |
Comparative advantage | shoes | coats |
Imports | coats | shoes |
Exports | shoes | coats |
c.
Country A | Country B | |
Absolute advantage | none | both |
Opportunity cost of shoes | 1 | 1 |
Opportunity cost of Coats | 0.25 | 4 |
Comparative advantage | shoes | coats |
Imports | shoes | coats |
Exports | coats | shoes |
d.
Country A | Country B | |
Absolute advantage | Both | none |
Opportunity cost of shoes | 1 | 0.25 |
Opportunity cost of Coats | 1 | 4 |
Comparative advantage | shoes | coats |
Imports | coats | shoes |
Exports | shoes | coats |
e.
Country A | Country B | |
Absolute advantage | Both | none |
Opportunity cost of shoes | 1 | 4 |
Opportunity cost of Coats | 1 | 0.25 |
Comparative advantage | shoes | coats |
Imports | coats | shoes |
Exports | shoes | coats |
|
|
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started