Estimating opportunity cost

Assignment Help International Economics

Reference no: EM1375204

In one day, Canada can manufacture either 200 tonnes of wheat or ninety tonnes of copper ingots. In one day, Chile can manufacture either 120 tonnes of wheat or 175 tonnes of copper ingots. Based on these numbers,

[A] Compute Canada's opportunity cost of one tonne of wheat.

[B] Compute Chile's opportunity cost of one tonne of copper ingots.

[C] who has a comparative advantage in producing copper ingots? Why?

[D] how many tonnes of wheat and how many tonnes of copper ingots will be produced if each country specializes?

Reference no: EM1375204

Questions Cloud

Illustrate what are determining factors that may lead : Illustrate what are determining factors that may lead to a decision to proceed with outsourcing. A gift shop sells 1000 boxes of scented candles a year.

Linder hypothesis based question : Assume that the you test Linder hypothesis through comparing Germany's absolute difference in per capita income from each of its trading partners with size of Germany's total trade with each respective partner.

Which risk factors would you address first : Developing Risk Mitigation Strategies. Develop a preliminary risk mitigation strategy for each of risk factors identified in Problem. If you were to prioritize your efforts which risk factors would you address first.

Explain how many tires should rocky mountain order : Explain how many tires should Rocky Mountain order each time it places an order. Assuming Rocky Mountain Tire Center orders (answer from above) tires per order, illustrate what is total annual cost.

Estimating opportunity cost : In one day, Canada can manufacture either 200 tonnes of wheat or ninety tonnes of copper ingots. In one day, Chile can manufacture either 120 tonnes of wheat or 175 tonnes of copper ingots.

Can you see any weakness in business : Illustrate what is source of IKEA's success today. Can you see any weakness in business. Illustrate what might it do to correct se. Illustrate what could be objective of a Logistics unit in a humanitarian relief operation

Illustrate what type of drug testing relevant to job : Illustrate what type of drug testing can be d1 and when is it relevant to job. Give some specific examples that you find out in your research. Should your business have access to e-mail and ph1 mail on your business equipment.

Illustrate what cooperative strategies constitute : Illustrate what cooperative strategies constitute and in illustrate what circumstances you would use which strategy. In case study, illustrate what cooperative strategies are being used by business.

Question about comparative advantage : Discuss why can not one nation have a comparative advantage over another nation in production of everything if the 1st country has excellent natural resources,

User Account

All Pages