Us and canada can both grow wheat and can do mining use, Business Economics

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Us and canada can both grow wheat and can do mining use

US and Canada can both grow wheat and can do mining. Use the following table to look for which country has a comparative advantage in mining. (Hint: Find the cost of mining in terms of wheat in each country.)

Absolute Cost in US Absolute Cost in Canada

Wheat $5 C$8

Mining $10 C$12

Canada has a comparative advantage in mining.

TheUShas a comparative advantage in mining.

No comparative advantage in mining exists for either nation.

We must first know the exchange rate to be able to answer this question.

Both a and b.

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Business Economics: Us and canada can both grow wheat and can do mining use

Reference No:- TGS0584769

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Business Economics: Us and canada can both grow wheat and can do mining use

Reference No:- TGS0584769

Recent Questions Asked Business Economics

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