Use this simulator (Links to an external site.) and apply the principle of comparative advantage to determine if two countries that produce cellphones and microwave ovens should specialize and trade..
I need help with an International Economics question. All explanations and answers will be used to help me learn. Use this simulator (Links to an external site.) and apply the principle of comparative advantage to determine if two countries that produce cellphones and microwave ovens should specialize and trade. When a worker in a country can produce more of a good than a worker in another country, the worker in the first country has an absolute advantage in producing that good. Which country’s workers have an absolute advantage in cellphones and microwave ovens? Briefly explain why.
Use this simulator (Links to an external site.) and answer the following questions. The United States and France produce many goods, including cheese and wheat. Which country has a comparative advantage in the production of wheat? If the United States decides to put all of its workers into the production of wheat, how many pounds of cheese would be lost?
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