Comparative advantage in bioinformatics in manufacturing

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Reference no: EM1317695

Q. 1. Do you find out it surprising that steel makers and manufacturers have left Buffalo? Do you find out it surprising that the Trico Products Company moved operations to Mexico and Texas? Elucidate your answers in terms of comparative advantage.

2. Why might the U.S. have a comparative advantage in bioinformatics but not in manufacturing and steel making?

3. The article states "geneticists and researchers get trapped in looking at a very small question; they can have blinders on. Working with a clinician, you see the big picture" and that "scientists tend not to be very good at running a business and a lot of times, not very interested in it". Elucidate these concepts in terms of specialization, trade, opportunity cost and comparative advantage.

Reference no: EM1317695

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