Posted by Stephanie 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:
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 -