Using the information provided in the table below, answer the following questions. Country ACountry BTables47Desk12 b) Answer the following questions:1. Which country has the Comparative Advantage in tables?2.Which country has the Comparative advantage in desk?

Name: Using the information provided in the table below, answer the followin
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Description: Using the information provided in the table below, answer the following questions. Country ACountry BTables47Desk12 b) Answer the following questions:1. Which country has the Comparative Advantage in tables?2.Which country has the Comparative advanta

A country is said to have comparative advantage in the production of a good if it can produce the…

Answered: Using the information provided in the…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter18: Trading With Other Nations

Section: Chapter Questions

Problem 10AA

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Using the information provided in the table below, answer the following questions.

	Country A	Country B
Tables	4	7
Desk	1	2

b) Answer the following questions:

1. Which country has the Comparative Advantage in tables?

2.Which country has the Comparative advantage in desk?

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

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