Illustrate what is the opportunity cost for italy

Assignment Help Macroeconomics

Reference no: EM1340228

Comparative and absolute advantage,

Country Bushels of Grapes Computers

Italy 100 300

Canada 150 600

Using this scenario, can you explain to me...

Who should specialize and in what?

Who has an absolute advantage and in what?

Who has a comparative advantage and in what?

What is the opportunity cost for Italy if they only produce 1 bushel of grapes? What about 1 computer?

How could we get the greatest output of both?

Reference no: EM1340228

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