The equilibrium-relative commodity price

Reference no: EM13311767

On one set axes, sketch a community indifference curve tangent to the fairly flat section of a concave production frontier. on a second set of axes, sketch another (different) community indifference curve tangent to the fairly steep portion of another (different) concave production frontier.

a) Draw in the line showing the equilibrium-relative commodity price in isolation in each nation.
b) Which is the commodity of comparative advantage for each nation?
c) Under what (unusual) condition would there be no such thing as comparative advantage or disadvantage between the two nations?

Reference no: EM13311767

Questions Cloud

Desscribe some of the trade-offs faced : Desscribe some of the trade-offs faced

Find the force per unit length on that wire : Two long straight wires are carrying current out of this page. Make the plane of this paper the x-y plane, and put one wire at the origin with 5 A., find the force per unit length on that wire

Design a drawing application : Design a drawing application (have a look at Microsoft Paint application on your Windows system). The application must have menus, and must be able to draw one or more sharps (e. g. point, line, rectangle, oval, etc).

Find the initial speed of the bullet-block system : A bullet with mass 5.44 g is fired horizontally into a 2.103-kg block attached to a horizontal spring. Find the initial speed of the bullet-block system

The equilibrium-relative commodity price : Draw in the line showing the equilibrium-relative commodity price in isolation in each nation.

Define an electron is represented as a half arrow : Consider that a single box represents an orbital, and an electron is represented as a half arrow. Orbitals of equal energy are grouped together.

What is the angular velocity of the door just after impact : A 10 \rm g bullet traveling at 440m/s strikes a 12kg , 1.2-\rm m-wide door at the edge opposite the hinge. The bullet embeds itself in the door, What is the angular velocity of the door just after impact

Explain what volume of h2o(g) is produced : What volume of H2O(g) is produced when 7.90 mo of C2H4 (g) reacts at STP? C2H4 (g) + 3O2 (g) ----> 2 CO2 (g) + 2 H20 (g)

How long is he in the air : A stuntman sitting on a tree limb wishes to drop vertically onto a horse galloping under the tree. The constant speed of the horse is 10.0 m/s, How long is he in the air

User Account

All Pages