Suppose Paraguay can produce 12 wheat or 3 corn. Suppose Bolivia can produce 4 wheat or 2 corn. Suppose opportunity costs are constant. Given these production possibilities,

A) Paraguay has a comparative advantage in wheat.
B) Paraguay has a comparative advantage in corn.
C) Paraguay has a comparative advantage in both goods.
D) Paraguay has an absolute advantage in neither good.

A

Economics

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Explain what would happen to the equilibrium price and quantity of pineapples if the supply of pineapples decreased while the demand for pineapples increased

What will be an ideal response?

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Compared with the 19th century, during the colonial period technological changes that raised output relative to inputs:

a. were slow and steady. b. increased in the early part of the period, but fell off dramatically after 1643. c. remained minor and sporadic. d. increased dramatically after 1643.

Economics