Absolute advantage and comparative advantage

Assignment Help Macroeconomics

Reference no: EM1311400

1. Explain how absolute advantage and comparative advantage differ?

2. Kyle can read 20 pages of economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying.

a) Draw Kyle's production possibilities frontier for reading economics and history.

b) What is Kyle's opportunity cost of reading 100 pages of history?

Reference no: EM1311400

Questions Cloud

What role might decentralization play : Denny has assured Austin that the information is accurate and that the expenses are properly classified and Do you believe this situation is more likely or less likely to occur in larger v. smaller companies? What role might decentralization play..

Gini coefficient and hypothetical gini values : First explain what the Gini coefficient is and what hypothetical Gini values of 0 and 1 mean. Sort the data by the Gini coefficient in 2000 and look at the list of countries.

Dissertation writing - criminology and law enforcement. : Dissertation writing - Criminology and law enforcement. "When you are the sheriff of Nowhere, you encounter strange crimes"

Computation of current share price : Computation of current share price and If the required rate on this stock is 10% what is the current share price

Absolute advantage and comparative advantage : Discuss how absolute advantage and comparative advantage differ? Kyle can read 20 pages of the economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying. Draw Kyle's production possibilities fron..

Gdp inequality between countries : Using the dataset, produce a graph of per capita GDP for Argentina, China, and Canada from 1965 to 1995. Is inequality between these countries increasing?

How would you support denny''s view : How would you support Denny's view? How would you support Austin's view?

Find the distance point of the blade has traveled in 3 sec : Find the distance point P on the tip of the blade has traveled in 3 sec. Also, find the magnitude of the acceleration of point P when t = 3 sec.

Scatter plots comparing gdp growth : Make for more scatter plots comparing GDP growth 1970-2000 to corruption, political rights, rule of law, and socio-political instability

User Account

All Pages