Business, 11.02.2020 03:33 ariellencevallo

England and Scotland both produces scones and sweaters. Suppose that an English worker can produce 30 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 40 scones per hour or 2 sweaters per hour.

a. Which country has the absolute advantage in the production of each good? Which country has the comparative advantage?

b. If England and Scotland decide to trade, which commodity will Scotland trade to England? Explain.

c. If a Scottish worker could produce only 1 sweater per hour, would Scotland still gain from trade? Would England still gain from trade

Answers: 2

Show answers

Answers

A. Scotland - Comparative Advantage in Scones, Sweaters. England - Comparative Advantage in Scones, Scotland - Comparative Advantage in Sweaters

B. England sell Scones , Scotland sell Sweaters

C. Yes, it would still be gainful for England

Explanation:

Scones Sweaters Trade off (Scones:Sweaters)

England 30 1 30:1

Scotland 40 2 20:1

a. Scotland has absolute advantage in both Scones & Sweaters, as - it can produce more of both goods than England. (scones 40 > 30) (sweaters 2 >1)

b. England has comparative advantage in Scones, Scotland in Sweaters, as- Scotland has less opportunity cost of sweaters in terms of Scones sacrifised (20 < 30). England is relatively more productive in Scones that sweater than Scotland (30X > 20X)

c. Yes, England still gains from trade if Scotland produces 1sweater/ hour, as It might get exchange ratio better than domestic trade off ratio. Getting >30, scones per one sweater is anyways gainful trade term for England

Answer from: Quest

i tried to find the answe for you im sorry.

Answer from: Quest

Via: "if you are found to be supplying or dealing drugs, the punishment is likely to be tough. supplying drugs doesn’t just apply to dealers. if police suspect that you intend to share drugs with your friends, this is still considered to be supplying.

being suspected of supplying drugs means you are much more likely to be charged. the amount of drugs found on you, and whether you have a criminal record, will be taken into account when a punishment is being decided.

decisions to prosecute are taken by the public prosecution service. the maximum sentences for intent to supply drugs are:

- up to life in prison or an unlimited fine (or both) for a class a drug- up to 14 years in prison or an unlimited fine (or both) for a class b or class c drug."sorry if this was a school question, you didnt supply options so i assumed it was a personal question, which if it is, reconsider selling or having possesion of any drugs at all. i wish you the best!

Another question on Business

Business, 22.06.2019 12:50

There is a small, family-owned store that sells food and household goods in a small town. the owners have good relations with the community, especially with local farmers who supply much of the food. the farmers aren't organized into a cooperative or union, and the store deals with each individually. suppose the store wanted to buy some farms to control the supply of certain vegetables. how would you classify this strategic move? select one: a. horizontal integration b. forward integration c. backward integration d. concentric integration

Answers: 2

Answer

Business, 22.06.2019 16:30

Why is investing in a mutual fund less risky than investing in a particular company’s stock?

Answers: 3

Answer

Business, 22.06.2019 17:50

What additional information about the numbers used to compute this ratio might be useful in you assess liquidity? (select all that apply) (a) the maturity schedule of current liabilities (b) the average stock price for the industry (c) the average current ratio for the industry (d) the amount of current assets that is concentrated in relatively illiquid inventories

Answers: 3

Answer

Business, 23.06.2019 06:40

Circumstances under which pro-forma invoice may be used

Answers: 1

Answer

You know the right answer?

England and Scotland both produces scones and sweaters. Suppose that an English worker can produce 3...

Questions