The table below represents daily production possibilities for a typical worker in both China and the United States, assuming that only two types of goods are produced in each country: food and textiles. (Put your answers in decimal form to two decimal places.)
Output per Worker per Day (unit)
Food Textiles
China 1 2
United States 9 3
The opportunity cost of 1 more unit of The opportunity cost of 1 more unit of food in China is giving up____ food in the United States is giving up_ units of textiles. The opportunity cost of 1 more unit of textiles in China is giving up _ textiles in the United States is giving up _ units of food.The opportunity cost of 1 more unit of China has the comparative advantage in the production of and the United States has the comparative advantage in the production of _____

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30-03-2021
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The table below represents daily production possibilities for a typical worker in both China and the United States, assuming that only two types of goods are produced in each country: food and textiles. (Put your answers in decimal form to two decimal places.)
Output per Worker per Day (unit)
Food Textiles
China 1 2
United States 9 3
The opportunity cost of 1 more unit of The opportunity cost of 1 more unit of food in China is giving up____ food in the United States is giving up_ units of textiles. The opportunity cost of 1 more unit of textiles in China is giving up _ textiles in the United States is giving up _ units of food.The opportunity cost of 1 more unit of China has the comparative advantage in the production of and the United States has the comparative advantage in the production of _____

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Reem1004 Reem1004 · Answer 1 · 2021-03-30T17:46:01+02:00

Reem1004 Reem1004

30-03-2021

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arshikhan8123 arshikhan8123 · Answer 2 · 2022-05-23T16:02:43+02:00

The opportunity cost of producing 1 more unit of food in China is giving up 2 units of textiles.

The opportunity cost of producing 1 more unit of food in the United States is giving up 0.33 units of textiles.

The opportunity cost of producing 1 more unit of textiles in China is giving up 0.5 units of food.

The opportunity cost of producing 1 more unit of textiles in the United States is giving up 3 units of food.

It is clear from the above that China has a comparative advantage in producing textiles while the United States has a comparative advantage in producing food.

What are opportunity costs and examples?

The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop or alternate use of the resources (land and farm equipment). A commuter takes the train to work instead of driving.

Learn more about opportunity costs here https://brainly.com/question/8846809

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