question archive Supone that worker in Cornland can growth o bushels of corn or 20 bushels of oats per yew and writing to the 10 bushels of corn or 100 bushels of cats per year There are 1000 workers in Cornland and 1000workers in Oatland 1
Supone that worker in Cornland can growth o bushels of corn or 20 bushels of oats per yew and writing to the 10 bushels of corn or 100 bushels of cats per year There are 1000 workers in Cornland and 1000workers in Oatland 1
Subject:EconomicsPrice: Bought3
Supone that worker in Cornland can growth o bushels of corn or 20 bushels of oats per yew and writing to the 10 bushels of corn or 100 bushels of cats per year There are 1000 workers in Cornland and 1000workers in Oatland 1. Complete table 1 by indicating which country has an absolute advantage in the production of Comand which country has the absolute advantage in the production of Oats. Justify your answer. 1 mark) Table 1 Combats Cornland batland 1. Complete table 2: (2 Marks) Cornland Oatland he opportunity cost of 1 unit of Corn is opportunity cost of unit of Oats h country has a comparative advantage in the Corn production? 1. Suppose each country has 1,000 workers. Currently, each country devotes 60 per cent of its labor force to produce Corn and 40 per cent to the production of Oats. Complete Table 3 by calculating the output of corn and Oats for each country and the total output of Corn and Onts between the two countries (2 Marks) Com Oats Cornland Oatland Total Table 3 1. Suppose after a specialization in only one good, Cornland and Oatland agreed to trade so that in exchange for 60000 units of O Traction in only one good, Comandand Oatland agreed to trade so that in exchange for 00000 soft, the exporter of Orches 40000 units of com comettetale 4 and 5 to show each country's comption tundle after trade 12 M Table & Barnland Production Dats Corn Exports Imports Consumes Table 5 batland Production Oats Corn orts es
