--%>
Assignment Help - homework help

Comparative advantage in production

I have a problem in economics on Comparative advantage in production. Please help me in the following question. The oranges are grown in Florida and potatoes are grown in Maine mainly since: (i) orange-grower’s in Maine have not lobbied effectively to save Maine oranges from inequitable competition. (ii) People in Florida don’t eat potatoes. (iii) Maine consists of a comparative advantage in producing potatoes and Florida consists of a comparative advantage in oranges. (iv) Growing oranges in Maine or potatoes in the Florida is physically not possible.

   Related Questions in Business Economics

  • Q : What are the determinants of demand

    What are the determinants of demand?

    		•
  • Q : Positive task of speculators in market

    A positive responsibility played through speculators within a market economy is to: (1) find out price levels for entrepreneurs. (2) predict the quantity at that long run equilibrium would be attained. (3) inform government organizations of consumer p

    		•
  • Q : What happens in the product markets

    What happens in the product markets?

    		•
  • Q : Heterodox approach for more production

    From the heterodox approach, what options does the enterprise need to produce more output? What effect do these options put on its cost structure?

    		•
  • Q : Why do governments enact trade barriers

    Why do governments enact trade barriers?

    		•
  • Q : Utility with food coupons Question: In

    Question: In Vancouver the Salvation Army encourages people to make food voucher donations to panhandlers instead of simply giving them cash. You can buy a food voucher for $5 and give it to a panhandler who can use it to purchase food. The Sa

    		•
  • Q : Explain about the Payments for using

    Payments for the use of land, capital and labor are respectively termed as: (w) rent, wages and profits. (x) rent, interest and wages. (y) dues, profits and depreciation. (z) fruit, profits and money.

    Q : What is an Economic Territory Economic

    Economic Territory: This refers to the region of a country where there is a free movement of goods, capital and human resources.

    		•
  • Q : Decentralized a virtue of capitalism

    The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W

    		•
  • Q : Perfect competition and efficiency

    Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please

    		•