Business, 13.04.2021 02:20 aletadaboss

The nations of Grapefruit Land and Peachland produce grapefruits and peaches. In Grapefruit And, there are 650,000 hours of labor available in a month, and it takes 2 hours of labor to produce a barrel of grapefruits, and 4 hours of labor to produce a crate of peaches. In Peachland, there are 350,000 hours of labor available in a month, and it takes 1 hour of labor to produce a barrel of grapefruits and 2 hours of labor to produce a crate of peaches. Required:
a. Which country has an absolute advantage in each good?
b. What is the opportunity cost of a crate of peaches in Grapefruitland?
c. What is the opportunity cost of a crate of peaches in Peachland?
d. Which country has a comparative advantage in each good?

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The nations of Grapefruit Land and Peachland produce grapefruits and peaches. In Grapefruit And, the...

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