college economics

posted by .

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

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Pre-Calculus

    A farmer can plant a combination of two different crops on 20 acres of land. Seed costs $120 per acre for crop A and $200 per acre for crop B. Government restrictions limit acreage of crop A to 15 acres, but do not limit crop B. Crop …
  2. 5th grade

    Mike and Shannon harvested 110,793 pounds of winter wheat off of the Stone Ranch. There are sixty pounds in a bushel. They planted 23.3 acres of winter wheat. How many bushels per acre did the crop yield?
  3. economics

    Suppose that there are two states that do not trade: Iowa and Nebraska. Each state produces the same two goods: corn and wheat. For Iowa the opportunity cost of producing 1 bushel of wheat is 3 bushels of corn. For Nebraska the opportunity …
  4. Math

    Below are the home states of 17 college professors. Ohio Georgia New Jersey Georgia Nebraska Michigan Ohio Pennsylvania South Carolina New Jersey New Jersey South Carolina Wisconsin Michigan Pennsylvania Ohio Wisconsin i. Make a frequency …
  5. science linear prog

    A small farm in Illinois has 110 acres of land available on which to grow corn and soybeans. The following table shows the cultivation cost per acre, the labor cost per acre, and the expected profit per acre. The column on the right …
  6. Algebra

    An acre of land is chosen at random from each of the three states listed in the table at the right. What is the probability that all three acres will be farmland?
  7. Math

    Farmer Brown planted corn and wheat on his 1200 acres of land. The cost of planting and harvesting corn is $275.00 per acre. The cost of planting and harvesting wheat is $125.00 per acre. If Farmer Brown's total cost was $244,500, …
  8. math

    1. A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat requires 4 hours of labor and $20 of capital, and each acre of corn requires 16 hours of labor and $40 of capital. The farmer has at most …
  9. Algebra

    A farmer has 20 acres to plant in wheat and barley. He has to plant at least 15 acres. Wheat costs $200 per acre to plant and barley costs $150 per acre, and the farmer has only $2400 to spend. If the estimated profit of an acre of …
  10. math

    Farmer Brown planted corn and wheat on his 450 acres of land. The cost of planting and harvesting corn is $280.00 per acre. The cost of planting and harvesting wheat is $125.00 per acre. If Farmer Brown's total cost was $102,750, how …

More Similar Questions