Ask Question
BusinessBusiness
29 January, 23:49

Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year or 48,000 tons of pears per year. Which of the following statements about opportunity cost is correct? A. Washington has an absolute advantage in the production of both pecans and pears B. missouri would specialize in pecan production and trade pecans to Washington for pears

+1
Answers (1)
  1. 30 January, 00:19
    0
    Answer:B. Missouri would specialize in pecan production and trade pecans to Washington for pears.

    Explanation:This is because, world trade hinges on the theory of "comparative cost advantage" which states that " countries should specialize in the production of commodities which they have cost advantage over others".
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If the price of a pack of post it notes increases from $2.00 to $2.80 and as a result quantity demanded falls from 160 to 80 units, what is the price elasticity of demand
Answers (1)
Carl transfers land with a fair market value of $120,000 and basis of $30,000, to a new corporation in exchange for 85 percent of the corporation's stock. The land is subject to a $45,000 liability, which the corporation assumes.
Answers (1)
Why is using money as a medium of exchange preferable to bartering?
Answers (1)
Internal controls for payroll systems include all of the following except a. restricted access to the check signing machine. b. changes in pay rates should be authorized and in writing. c. having employees check into work using an employee ID card.
Answers (1)
When buying component parts, risk does not include:?
Answers (1)
New Questions in Business
Suppose a three-person comittee is formed for a culb by drawing names out of a hat. If the expected number of women is 2 and there are 10 men in the culb, how many women are in the club?
Answers (1)
Marin Inc. has an investment in trading securities of $143000. This investment experienced an unrealized loss of $7300 during the current year.
Answers (1)
Jim Bob Airlines has one 57 seat plane. On its last five flights it had 44 passengers from MSY to DFW, 49 passengers from DFW to OKL, 36 passengers from OKL to TUL, 30 passengers from TUL to FWB, and 49 passengers from FWB to MSY.
Answers (1)
All of the following are stakeholders of a firm, except
Answers (2)
A country currently has an outstanding debt of $45 billion. Its current-year expenditures are $12 billion and its tax revenue is $14 billion.
Answers (1)
Home » Business » Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year or 48,000 tons of pears per year. Which of the following statements about opportunity cost is correct? A.
Sign Up Forgot Password?