Suppose that Italy and Austria both produce fish and shoes. Italy's opportunity cost of producing a pair of shoes is 5 pounds of fish while Austria's opportunity cost of producing a pair of shoes is 10 pounds of fish. By comparing the opportunity cost of producing shoes in the two countries, you can tell thatItaly has a comparative advantage in the production of shoes andAustria has a comparative advantage in the production of fish. Suppose that Italy and Austria consider trading shoes and fish with each other. Italy can gain from specialization and trade as long as it receives more than5 pounds of fish for each pair of shoes it exports to Austria. Similarly, Austria can gain from trade as long as it receives more than1/10 pair of shoes for each pound of fish it exports to Italy. Based on your answer to the last question, which of the following prices of trade (that is, price of shoes in terms of fish) would allow both Austria and Italy to gain from trade?
a. 9 pounds of fish per pound of cheese.
b. 18 pounds of fish per pound of cheese.
c. 3 pounds of fish per pound of cheese.
d. 1 pound of fish per pound of cheese.

Answers

Answer 1

Answer:

a. 9 pounds of fish per pound of cheese.

Explanation:

The gain from trade would arise at the time when the price of the cheese with respect to the fish is more than 5 and less than 10

So according to the given option the first option is met the criteria

The 9 is more than 5 and less than 10

And, the other options does not met the criteria

So, the first option i.e. a is correct

And, all other options are wrong


Related Questions

Irma has $500 to open a checking account. She wants an account with the lowest fees. She plans to use only her bank’s ATM to deposit her paychecks and withdraw cash.
Which checking account would be best for Irma?
Account A
Account B
Account C
Account D

Answers

Answer: the correct answer is A

Explanation:

Answer:

A

Explanation:

what is the specific goal of product promotion ?​

Answers

Answer:

Promotional goals include creating awareness, getting people to try products, providing information, retaining loyal customers, increasing the use of products, and identifying potential customers, as well as teaching potential service clients what is needed to “co-create” the services provided.

getting people to buy the product you are promoting

What is one thing the government does as it enforces consumer-protection
regulations?
A. collects tariffs from foreign producers
B. tests products such as drugs and automobiles for safety
C. prevents cartels from engaging in price fixing or production
limitation
D. makes sure publicly-traded companies provide stockholders with
financial records

Answers

Answer: B: test products such as drugs and automobiles for safety

Explanation: âpex learning

While planning a new product launch, Cassandra knew that the art department was ready to work on the promotional pieces right away. But they are not able to start until the strategy group established the price point and the purchasing group obtained the paper needed to make the promotional piece. Establishing price points would take about a week and was dependent on manufacturing getting the costs to the strategy group. This was expected a week from today. The purchasing group indicated the paper could be obtained locally the same day it was requested. Based on this information and assuming things go according to plan, when will the art department be able to begin work on the promotional pieces?
A. 1 weekB. 1 monthC. 1 dayD. 2 weeks

Answers

Answer:

A. 1 week

Explanation:

This is true due to the fact that, Cassandra knew it would take about 1 week to establish the price point in the new product which she is planning to launch.

For the extra week it would have taken to get the paper could not hold again due to the fact that, it was already established that, it would take same day to get same paper rather than waiting for the paper to get to the strategy group in one week.

Earning a degree can be expensive but which example shows why it might be worth it?
(financing higher education)

Answers

Answer:

Earning a degree can be expensive but it can almost guarantee you great job opportunities and great job opportunities can provide great income, and other benefits.

Explanation:

According to the video, what tasks commonly are performed by Cashiers? Check all that apply.

creating advertisements
receiving money
totaling bills
giving receipts
delivering products to customers’ homes
weighing produce and bulk food

Answers

Answer:

receiving money

totaling bills

giving receipts

Explanation:

Cashiers are workers stationed at cash registers. Their role revolves around receiving money, issuing receipts,  and disbursement of correct change as required. Cashiers work in many institutions, especially in the retail industry.

Cashiers' main task is to collect payment from customers. They have to be accurate when issuing receipts and giving back change. Cashiers have to reconcile their register at the end of the day.

Answer:

bcd

Explanation:

Select three things are included in a product requirements document.(more than one answer)

[ ]customer stories
[ ]request for proposal
[ ]service providers
[ ]business plan
[ ]market data

Answers

Answer:

b d e

If i am wrong i am sorry

The correct answers are B,D, and E.

B. request for proposal

D. business plan

E. market data

The rule of equal marginal utility per dollar spent suggests that consumers maximize utility by A. Equalizing across goods and services. B. Equalizing the marginal utility per dollar spent across goods and services. C. The marginal utility per dollar spent across goods and services. D. . E. Maximizing the marginal rate of substitution.

Answers

Explanation:

B-Equalizing the marginal utility per dollar spent across goods and services

Pls mark brainliest

Scenario D. Luxe Slumber is a company that produces high-quality mattresses. Omar, the CEO, makes all the business deals for the company. He negotiates with suppliers and gets new customers and business for the company. Charles communicates his vision for the company and what he would like it to achieve to Ana, who lays out plans to make possible the execution of that vision. Ana delegates the work accordingly by communicating to the sales and production managers Omar's vision and what he requires of them. Irving, a floor manager, makes sure that the workers do their jobs at the required pace to meet the targets and goals of the company.By creating objectives and communicating them to the rest of the organization, Ana is performing the function of a(n) ________ manager.A. strategicB. frontlineC. operationsD. top-levelE. tactical

Answers

Answer:

A)strategic

Explanation:

From the question we are informed about Scenario D. Luxe Slumber who is a company that produces high-quality mattresses. Omar, the CEO, makes all the business deals for the company. He negotiates with suppliers and gets new customers and business for the company. Charles communicates his vision for the company and what he would like it to achieve to Ana, who lays out plans to make possible the execution of that vision. Ana delegates the work accordingly by communicating to the sales and production managers Omar's vision and what he requires of them. Irving, a floor manager, makes sure that the workers do their jobs at the required pace to meet the targets and goals of the company.By creating objectives and communicating them to the rest of the organization, In this case Ana is performing the function of a strategic manager. A Strategy Managers is essential in organization in order to achieve the goals of the organization, the manager helps in reviewing of the organizations so that strengths as well as the weaknesses and operational effectiveness of the organization can be determined. The strategy manager can help the organization in making

recommendations after considering internal and external factors in order to minimize risks, he can as well formulate plans that can help the organization's long-term goals to be achieved.

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