Table 2-30

-Refer to Table 2-30. This table shows the number of labor hours required to produce a wristwatch and a bushel of rice in Japan and Thailand.
a. Which country has an absolute advantage in the production of wristwatches?
b. Which country has an absolute advantage in the production of rice?
c. What is Japan's opportunity cost of producing one wristwatch?
d. What is Thailand's opportunity cost of producing one wristwatch?
e. What is Japan's opportunity cost of producing one bushel of rice?
f. What is Thailand's opportunity cost of producing one bushel of rice?
g. If each country specializes in the production of the product in which it has a comparative advantage, who should produce wristwatches?
h. If each country specializes in the production of the product in which it has a comparative advantage, who should produce rice?

Question

Table 2-30
 
-Refer to Table 2-30. This table shows the number of labor hours required to produce a wristwatch and a bushel of rice in Japan and Thailand.
a. Which country has an absolute advantage in the production of wristwatches?
b. Which country has an absolute advantage in the production of rice?
c. What is Japan's opportunity cost of producing one wristwatch?
d. What is Thailand's opportunity cost of producing one wristwatch?
e. What is Japan's opportunity cost of producing one bushel of rice?
f. What is Thailand's opportunity cost of producing one bushel of rice?
g. If each country specializes in the production of the product in which it has a comparative advantage, who should produce wristwatches?
h. If each country specializes in the production of the product in which it has a comparative advantage, who should produce rice?

Quizplus · Accepted Answer

The Answer of Table 2-30
 
-Refer to Table 2-30. This table shows the number of labor hours required to produce a wristwatch and a bushel of rice in Japan and Thailand.
a. Which country has an absolute advantage in the production of wristwatches?
b. Which country has an absolute advantage in the production of rice?
c. What is Japan's opportunity cost of producing one wristwatch?
d. What is Thailand's opportunity cost of producing one wristwatch?
e. What is Japan's opportunity cost of producing one bushel of rice?
f. What is Thailand's opportunity cost of producing one bushel of rice?
g. If each country specializes in the production of the product in which it has a comparative advantage, who should produce wristwatches?
h. If each country specializes in the production of the product in which it has a comparative advantage, who should produce rice?

Table 2-30 -Refer to Table 2-30. This Table Shows the Number of Shows