Table 2.9 -Refer to Table 2.9. This Table Shows the Number of Shows

question 117

Essay

Table 2.9

-Refer to Table 2.9. This table shows the number of labour hours required to produce a motorcycle and a guitar in Ireland and Scotland.
a.Which country has an absolute advantage in the production of motorcycles?
b.Which country has an absolute advantage in the production of guitars?
c.What is Ireland's opportunity cost of producing one motorcycle?
d.What is Scotland's opportunity cost of producing one motorcycle?
e.What is Ireland's opportunity cost of producing one guitar?
f.What is Scotland's opportunity cost of producing one guitar?
g.If each country specialises in the production of the product in which it has a comparative advantage, who should produce motorcycles?
h.If each country specialises in the production of the product in which it has a comparative advantage, who should produce guitars?
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Definitions:

Fixed Units of Measurement

This refers to using consistent and unchanging units when measuring variables or quantities in research, experiments, or any form of data collection.

Ratios

Expresses the quantitative relationship between two numbers, showing how many times one value contains or is contained within the other.

Univariate Data

Data consisting of observations on only a single characteristic or attribute.

Single Variable

Pertaining to equations, functions, and data that involve only one variable and do not require the interaction or relationship with any other variables for their resolution.