Post a New Question

college economics

posted by on .

Assume Nebraska and Virginia each have 100 acres of farmland. The following table gives hypothetical figures for yield per acre in the two states:

Nebraska Virginia
Wheat 15 5
Cotton 7 4

Who has the comparative advantage in the production of wheat?
*For this answer, I think it is Nebraska but I am confused

Who has the comparative advantage in the production of cotton?
*for this answer, I think it is Virginia but I am confused

What is the marginal rate of transformation when the two states are producing a total of 200 units of corn?

  • college economics - ,

    lkhgiuygkl

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question