Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Using a certain quantity of resources, workers in the fictitious country of Iguania can produce 4 bottles of penicillin or 12 loaves of bread. Using the same resources, workers in another fictitious country, Chamelia, can produce 6 bottles of penicillin or 8 loaves of bread.

A. Calculate the opportunity cost of producing each good in each country.

B. Which country has comparative advantage in the production of which good?

C. Complaints about "unfair trade practices" lead to a mutual embargo between these two countries. Who will gain and who will suffer because of this embargo?

D. If, after a long embargo, trade is resumed between these two countries, who would benefit the most from it?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91703325
  • Price:- $25

Guranteed 24 Hours Delivery, In Price:- $25

Have any Question?


Related Questions in Business Economics

Case studyobjectivesthis assessment item relates to course

Case Study Objectives This assessment item relates to course learning outcomes 1 and 4 as listed in the unit profile. Task description: In this task, you will build a case study based on the article: RBA decision 7th Aug ...

1- a fencer attends a fencing tournament to ensure the

1- A fencer attends a fencing tournament. To ensure the equipment works well, he takes three blades. Two of them will be the backup. The probability of his three blades to function properly are 0.95, 0.8, 0.7 respectivel ...

Research on the web ideas for small businesses for students

Research on the web ideas for small businesses for students. Describe at least three different ideas and include what for of business ownership you would use to structure each business.

What is the difference between a positive economic

What is the difference between a positive economic statement and a normative one

What would be the substitution effect and the income effect

What would be the substitution effect and the income effect of a wage increase?

The demand for salt is relatively price inelastic while the

The demand for salt is relatively price inelastic, while the demand for pretzels is relatively price elastic. How can you best explain why and elaborate your answer.

What are the classical neoclassical keynesian and marxian

What are the classical, Neoclassical, Keynesian, and Marxian Economic Schools of Thought on poverty and perspectives on individual decisions? Briefly explain their opinions.

The market for truck hoods is perfectly competitive the

The market for truck hoods is perfectly competitive. The current equilibrium price is $500 and 80 units are sold per day. Suppose the own price elasticity of demand is -0.4 and the price elasticity of supply is 1.5, and ...

Scores on a new version of the miller analogies test mat

Scores on a new version of the Miller Analogies test (MAT) taken during college students' senior year are correlated with their grades in graduate school two years later. The MAT correlated with GPA is .49. Which one is ...

Qxd 14 - 12 px andnbspqxs 14pxnbsp- 1anbspdetermine the

QXd = 14 - (1/2) P X and QXS = (1/4)P X  - 1 a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium price and ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As