Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 438 Weeks Ago, 1 Day Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Economics Posted 28 May 2017 My Price 8.00

Specialization and trade

 

4. Specialization and trade When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialize in the production of this good and trade it for other goods.The following graphs show the production possibilities frontiers (PPFs) for Maldonia and Lamponia. Both countries produce potatoes and tea, each initially (i.e., before specialization and trade) producing 6 million pounds of potatoes and 3 million pounds of tea, as indicated by the grey stars marked with the letter A.Maldonia02468101214161614121086420TEA (Millions of pounds)POTATOES (Millions of pounds)PPFALamponia02468101214161614121086420TEA (Millions of pounds)POTATOES (Millions of pounds)PPFAMaldonia has a comparative advantage in the production of , while Lamponia has a comparative advantage in the production of . Suppose that Maldonia and Lamponia specialize in the production of the goods in which each has a comparative advantage. After specialization, the two countries can produce a total ofmillion pounds of potatoes andmillion pounds of tea.Suppose that Maldonia and Lamponia agree to trade. Each country focuses its resources on producing only the good in which it has a comparative advantage. The countries decide to exchange 4 million pounds of potatoes for 4 million pounds of tea. This ratio of goods is known as the terms of trade between Maldonia and Lamponia.The following graph shows the same PPF for Maldonia as before, as well as its initial consumption at point A. Place a black point (plus symbol) on the graph to indicate Maldonia's consumption after trade.Note: Dashed drop lines will automatically extend to both axes.MaldoniaConsumption After Trade02468101214161614121086420TEA (Millions of pounds)POTATOES (Millions of pounds)PPFAThe following graph shows the same PPF for Lamponia as before, as well as its initial consumption at point A.As you did for Maldonia, place a black point (plus symbol) on the following graph to indicate Lamponia's consumption after trade.LamponiaConsumption After Trade02468101214161614121086420TEA (Millions of pounds)POTATOES (Millions of pounds)PPFATrue or False: Without engaging in international trade, Maldonia and Lamponia would not have been able to consume at the after-trade consumption bundles. (Hint: Base this question on the answers you previously entered on this page.)TrueFalse</a);"></a);"></a);"></a);">
 
 

Answers

Alpha Geek
(8)
Status NEW Posted 28 May 2017 07:05 AM My Price 8.00

-----------

Attachments

file 1495957213-1792243_1_636314769656141959_1792243.docx preview (79 words )
----------- -----------Thi-----------s, -----------the----------- an-----------swe-----------r i-----------s T-----------RUE----------- E-----------xpl-----------ana-----------tio-----------n -----------Wit-----------hou-----------t e-----------nga-----------gin-----------g i-----------n i-----------nte-----------rna-----------tio-----------nal----------- tr-----------ade-----------, a-----------ny -----------qua-----------nti-----------ty -----------out-----------sid-----------e a----------- co-----------unt-----------ry'-----------s o-----------rig-----------ina-----------l p-----------rod-----------uct-----------ion----------- po-----------ssi-----------bil-----------iti-----------es -----------fro-----------nti-----------er -----------is -----------con-----------sid-----------ere-----------d n-----------ot -----------fea-----------sib-----------le.----------- In----------- ot-----------her----------- wo-----------rds-----------, g-----------ive-----------n a-----------n i-----------ndi-----------vid-----------ual----------- co-----------unt-----------ry'-----------s r-----------eso-----------urc-----------es,----------- th-----------e b-----------und-----------les----------- on----------- th-----------e p-----------rod-----------uct-----------ion----------- po-----------ssi-----------bil-----------iti-----------es -----------fro-----------nti-----------er -----------are----------- th-----------e g-----------rea-----------tes-----------t q-----------uan-----------tit-----------ies----------- of----------- th-----------e g-----------ood-----------s s-----------how-----------n t-----------hat----------- a -----------cou-----------ntr-----------y c-----------an -----------pro-----------duc-----------e (-----------and-----------, t-----------her-----------efo-----------re,----------- co-----------nsu-----------me)----------- wi-----------tho-----------ut -----------int-----------ern-----------ati-----------ona-----------l t-----------rad-----------e. -----------By -----------exp-----------loi-----------tin-----------g
Not Rated(0)
Relevent Questions