Qusetion 1 what is irelands opportunity cost of producing, Ask an Expert

Economics

Qusetion: 1. What is Ireland's opportunity cost of producing one hand-made wool sweater?

2. What is Germany's opportunity cost of producing one hand-made wool sweater?

3. What is Ireland's opportunity cost of producing one barrel of beer?

4. What is Germany's opportunity cost of producing one barrel of beer?

5. Ireland has a comparative advantage in?

6. Germany has a comparative advantage in?

If the two countries specialize and trade, who should export barrels of beer?

	One Hand-Made Wool Sweater	One Barrel of Beer
Ireland	16 hours	4 hours
Germany	10 hours	2 hours

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92586124

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question research the role of an administrator in contrast

Question: Research the role of an administrator in contrast to a non-management staff member in regards to risk management of an ADA (Americans With Disabilities Act) or workers' compensation incident in a typical health ...

Question inflation and unemploymentsuppose that the

Question: Inflation and unemployment Suppose that the government believes the economy is not producing goods and services at its optimal level. In an attempt to stimulate the economy, the government increases the quantit ...

Question consider the heckscher-ohlin model from the slides

Question: Consider the Heckscher-Ohlin model from the slides in the case of no factor substitution. The production technology of food and cloth are: QF = min [LF/3 , KF] QC = min [KC/3 , LC]. The home country has 100 uni ...

Question you are buying a car for 20000 with 4000 down

Question: You are buying a car for $20,000 with $4,000 down payment. You will pay for the remaining amount with 30 equal monthly payments with interest at 12%, compounded monthly. How much is your monthly payment? The re ...

Question assume the elasticity of oil supply is 001 and

Question: Assume the elasticity of oil supply is 0.01 and that the elasticity of oil demand is -0.01. You know that there has been a shortfall in the supply of oil of 10%. What is the expected change in the price of oil? ...

Who is helped who is hurt by a living wage requirement what

Who is helped, who is hurt by a living wage requirement? What underlying data is used to justify a living wage requirement? What are the long run impacts of a living wage requirement?

Quesiton consider a non-dividend-paying stock whose current

Quesiton: Consider a non-dividend-paying stock whose current price S(0) = S is $50. After each period, there is a 40% chance that the stock price goes up by 25%. If the stock price does not go up, then it drops by 20%. A ...

Question a peggy buys a house for 200000 with a monthly

Question: (A) Peggy buys a house for $200,000, with a monthly mortgage payment of $2,000. The current interest rate is 8%. A year later, the interest rate drops to 7% and her monthly payment falls to $1,800. What happens ...

Question to solve the congestion problems of the big cities

Question: To solve the congestion problems of the big cities, Congress decides to increase the Federal gasoline tax by 25 c per gallon, with a rebate to largely rural states; the net effect will raise approximately $20 b ...

Question explain why if there is no formal or informal

Question: Explain why if there is no formal or informal collusion in an oligopoly market firms are more likely to match a price cut by an individual firm than they are to match a price increase? If firms in an oligopoly ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert