Business, 25.02.2020 23:57, pokry3225

The table below shows units of wheat and cloth produced by each worker per day in both the countries.

Good Country
U. S India

Wheat 9 4
Clothes 3 2

Which of the following assumptions hold true for the example?

a. Both the countries have identical factor endowments.
b. The goods are produced by using different factors of production.
c. Labor productivity alone determines the comparative advantage for both countries.
d. Both the countries will produce and export wheat and cloth.
e. The taste and preference of the consumers are dissimilar in the two countries.

Answers: 2

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The table below shows units of wheat and cloth produced by each worker per day in both the countries...