Thailand can produce a bushel of wheat in 12 hours and a cd, Ask an Expert

Economics

Finding out the opportunity cost and comparative advantage

Suppose the US can produce a bushel of wheat in 1 hour and a CD player in 10 hours . Thailand can produce a bushel of wheat in 12 hours and a cd player in 2 hours. According to the law of comparative advantage , who should produce wheat and who should produce Cd palyer? find out all relevant opportunity price.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M916091

Have any Question?Write your Review or question?

Related Questions in Business Economics

From a consequentialist perspective that has as its

From a consequentialist perspective that has as its objective improving the standard of living of unskilled workers, is the introduction of a minimum wage ethically justified?

What is an example of a repetitive and specific task in

What is an example of a repetitive and specific task in which you use descriptive statistics on a daily basis. What is an example of how you consciously or subconsciously rely on the presence of descriptive statistics in ...

Suppose the demand schedule in a market can be represented

Suppose the demand schedule in a market can be represented by the equation QD = 500 -10P, where QD is the quantity demanded and P is the price. . Also, suppose the supply schedule can be represented by the equation QS = ...

1 what are the modern firm-based international trade

1. What are the modern, firm-based international trade theories? 2. Describe how a business may use the trade theories to develop its business strategies. Use Porter's four determinants in your explanation. 3. What is th ...

A if the required reserve ratio is 250 percent what is the

a. If the required reserve ratio is 2.50 percent, what is the monetary multiplier b. If the monetary multiplier is 5, what is the required reserve ratio?

The power of the market - 1990watch and discuss the video

The Power of the Market - 1990 Watch and discuss the video - The Power of the Market http://www.freetochoose.tv/program.php?id=ftc1990_1&series=ftc90 Links to an external site. By discuss I mean: Overall, what did you ...

How do you find the minimum sample size when population

How do you find the minimum sample size when population standard deviation is anywhere between 14 to 24, and the half-width B desired could be anywhere between 2 to 7?

Identify how protecting sovereign boundaries in regards to

Identify how protecting sovereign boundaries in regards to intellectual property has a positive effect on the GDP. Your answer should be in complete sentences

A cohort study is conducted to assess the association

A cohort study is conducted to assess the association between clinical characteristics and the risk of stroke. The study involves n=1,250 participants who are free of stroke at the study start. Each participant is assess ...

We live in kapurkua a small island in the mediterranean

We live in Kapurkua, a small island in the mediterranean between Greece and Spain (no, it doesn't really exist so don't look it up in the map). In the island we produce and consume canoes, latreks (a garment that is comf ...

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 Business Economics Expert