0
Under which circumstance would Country X have a comparative advantage in the production of cotton?
Wiki User
∙ 7y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Country X would have a comparative advantage in the production of cotton under what circumstance?
Country X didn't have to give up a more profitable form of production in order to grow cotton.
Country x would have a comparative advantage in production of cotton under what circumstance?
Country X didn't have to give up a more profitable form of production in order to grow cotton.
If a country has comparative advantage in the production of all goods should it trade?
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
Country X would enjoy an absolute advantage in the production of clothing under what circumstance?
Its production costs for clothing were the lowest in the world.
Why does country a have a comparative advantage over country b in the production of televisions?
Country A has a lower opportunity cost for producing televisions
Country X would have a comparative advantage in the production of cotton under what circumstance?
Country X didn't have to give up a more profitable form of production in order to grow cotton.
Country x would have a comparative advantage in production of cotton under what circumstance?
Country X didn't have to give up a more profitable form of production in order to grow cotton.
If a country has comparative advantage in the production of all goods should it trade?
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
When doe one country have a comparative advantage over another country?
When the opportunity cost of its production is lower.
Country X would enjoy an absolute advantage in the production of clothing under what circumstance?
Its production costs for clothing were the lowest in the world.
Why does country a have a comparative advantage over country b in the production of televisions?
Country A has a lower opportunity cost for producing televisions
When does Country A have a comparative advantage over Country B in the production of televisions?
Country A has a lower opportunity cost for producing televisions.
Difference between absolute cost advantage theory and comparative cost advantage theory?
absolute cost advantage talks about the efficiency and cheaply a country incure in the production of goods and services against other country whiles comparative advantage talks about the opotunity cost of goods
What gives a country a comparative advantage?
When it gives up less than others to engage in a particular type of production
When does country X have a comparative advantage in the production of coffee?
When they can produce it at a lower opportunity cost than other countries.
What is one country of comparative advantage in the production of a certain good?
It has a lower opportunity cost for production of that good.
When does County X have a comparative advantage in the production of coffee?
Country X doesn't give up a more efficient form of production in order to grow coffee.
