Which country has an absolute advantage in the production

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Reference no: EM131103822

Answer the following questions using the information given by the accompanying table:

	Home Country	Foreign Country	Absolute Advantage
Number of bicycles produced per hour	4	2	?
Number of snowboards produced per hour	6	8	?
Comparative advantage	?	?

a. Complete the table for this problem

b. Which country has an absolute advantage in the production of bicycles? Which country has an absolute advantage in the production of snowboards?

c. What is the opportunity cost of bicycles in terms of snowboards at Home? What is the opportunity cost of bicycles in terms of snowboards in Foreign?

d. What product will Home export, and which product does Foreign export? Briefly explain why.

Reference no: EM131103822

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