Calculate the gains from trade, Mathematics

Assignment Help:

Table shows the productivity for the countries Pin and Pang.

2150_Calculate the Gains from Trade.png

1) If the working population of Pin and Pang are both 6 million, divided equally between the two industries in each country, how many machines and bread are currently being produced in Pin and Pang?

2)    If the two countries decide to specialize, in which product does each country have a comparative advantage?

3)     If the two countries were to totally specialize, what would be the resulting  combined totals?

4) What are the gains from trade?


Related Discussions:- Calculate the gains from trade

Cartesian product of sets, The Cartesian product (also called as the cross ...

The Cartesian product (also called as the cross product) of two sets A and B, shown by AΧB (in the similar order) is the set of all ordered pairs (x, y) such that x€A and y€B. What

How many more cm are required to reach the average monthly, Thomas is remai...

Thomas is remaining track of the rainfall in the month of May for his science project. The first day, 2.6 cm of rain fell. On the second day, 3.4 cm fell. On the third day, 2.1 cm

What is pythagorean triples, What is Pythagorean Triples? A set of thre...

What is Pythagorean Triples? A set of three numbers a, b, and c that can satisfy the equation A 2 +b 2 = c 2 , is called a Pythagorean triple. The following is a list of

Determine dy & dy if y = cos ( x2 + 1) - x, Determine dy & Δy  if y = cos ...

Determine dy & Δy  if y = cos ( x 2 + 1) - x as x changes from x = 2 to x = 2.03 .  Solution Firstly let's deetrmine actual the change in y, Δy . Δy = cos (( 2.03) 2

Cylindrical coordinates - three dimensional space, Cylindrical Coordinates ...

Cylindrical Coordinates - Three Dimensional Space Since with two dimensional space the standard (x, y, z) coordinate system is known as the Cartesian coordinate system.  In the

Find out the variance and standard deviation, The probability of a rare dis...

The probability of a rare disease striking a described population is 0.003. A sample of 10000 was examined. Determine the expected no. suffering from the disease and thus find out

Assignment, how do mathematical ideas grow?

how do mathematical ideas grow?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd