Table 13.14 shows the output of kumquats per month.
-Suppose that the productivity per worker in the milk and cranberry juice industries of Southland and Northland are as follows:
a)Which country has the absolute advantage in producing milk?
b)Which country has the absolute advantage in producing cranberry juice?
c)Which country has the comparative advantage in producing milk?
d)Which country has the comparative advantage in producing cranberry juice?
e)According to the theory of comparative advantage,will there be trade? If yes,what is the direction of trade?
Definitions:
Operating Assets
Assets used for the operations of a business, such as equipment, inventory, and real estate.
Turnover
The total sales or revenue generated by a company within a specific period, indicating the pace at which a business operates.
Return On Investment
A performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of several investments.
Investment Opportunity
A chance to put money into ventures that are expected to yield returns or profits in the future.
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