Blue Violet's production possibilities Teapots (number per week) 150 100 50 0 & & & Coffeepots Teapots (number (number per week) 0 Sweet Pansy's production possibilities Coffeepots (number per week) 0 50 25 50 75 per week) 150 100 50 0 & & & & 100 150 Two countries, Blue Violet and Sweet Pansy, produce only two goods, teapots and coffee pots. The table above gives their production possibilities. Blue Violet has a comparative advantage in teapots. Both have a comparative advantage in teapots. Sweet Pansy has a comparative advantage in teapots. Sweet Pansy has an absolute advantage in teapots.

Blue Violet's production possibilities Teapots (number per week) 150 100 50 0 & & & Coffeepots Teapots (number (number per week) 0 Sweet Pansy's production possibilities Coffeepots (number per week) 0 50 25 50 75 per week) 150 100 50 0 & & & & 100 150 Two countries, Blue Violet and Sweet Pansy, produce only two goods, teapots and coffee pots. The table above gives their production possibilities. Blue Violet has a comparative advantage in teapots. Both have a comparative advantage in teapots. Sweet Pansy has a comparative advantage in teapots. Sweet Pansy has an absolute advantage in teapots.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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