Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the table below to specify which country has an absolute advantage in producing iPads and which country has an absolute advantage in producing TVs.

Use the table below to specify which country has an absolute advantage in producing iPads and which country has an absolute advantage in producing TVs.

Japan Vietnam

Number of iPad produced per hour 10 5

Number of TVs produced per hour 50 10

Select one:

a. Vietnam has an absolute advantage in producing both goods.

b. Japan has an absolute advantage in producing both goods.

c. Japan has an absolute advantage in producing smartphones and Vietnam has an absolute advantage in producing radios.

d. Vietnam has an absolute advantage in producing smartphones and Japan has an absolute advantage in producing radios.

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

Financial Accounting Making The Connection

Authors: J David Spiceland, Wayne Thomas, Don Herrmann

1st Edition

0077862260, 9780077862268

More Books

Students also viewed these Economics questions

Question

How can managers use goal-theory to motivate employees?

Answered: 1 week ago

Question

2. In what way can we say that method affects the result we get?

Answered: 1 week ago