Solved

The Data Given Is for Two Hypothetical Nations, Wat and Xat.The

Question 55

Multiple Choice

The data given is for two hypothetical nations, Wat and Xat.The nations have the Production Possibilities Curves (PPC) for units of rice and corn as given below. The data given is for two hypothetical nations, Wat and Xat.The nations have the Production Possibilities Curves (PPC) for units of rice and corn as given below. Refer to the above data, in country Wat, the comparative cost of 1 unit of: A) rice is 3 units of corn. B) rice is <sup>1</sup>/<sub>3</sub> unit of corn and should not specialize in production of it if the two nations decide to trade with each other. C) corn is 5 units of rice. D) corn is <sup>1</sup>/<sub>5</sub> unit of rice. Refer to the above data, in country Wat, the comparative cost of 1 unit of:


A) rice is 3 units of corn.
B) rice is 1/3 unit of corn and should not specialize in production of it if the two nations decide to trade with each other.
C) corn is 5 units of rice.
D) corn is 1/5 unit of rice.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q50: The graph below shows the production possibility

Q52: The data embodied in the below diagrams

Q54: The following is the Production possibilities data

Q56: Refer to the</p></div><svg width=

Q57: The following is the Production possibilities data

Q58: The following information is about the cost

Q59: The production possibilities table given below shows

Q60: The production possibilities curves below suggest that:

Q63: Assume that by devoting all of its

Q81: If a nation has a comparative advantage

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents