Suppose that in a year an American worker can produce 200 pillows or 30 televisions, while a China worker can produce 200 pillows or 18 televisions
.>Explain the range of the price of a television (in terms of pillows) for which the two countries might trade..
econ questions..pls help
2007-11-10 11:29 am
回答 (2)
2007-11-10 3:36 pm
✔ 最佳答案
Cost of producing 1 TV in USA: 200 / 30 = 6.67 pillowsCost of producing 1 TV in China: 200 / 18 = 11.11 pillows
What is the same thing:
Cost of producing 1 pillow in USA: 30 / 200 = 0.15 TV
Cost of producing 1 pillow in China: 30 / 200 = 0.09 TV
USA has a comparative advantage in producing TV.
China has a comparative advantage in producing pillows.
USA should export TV and China export pillows.
Trade will benefit if the price of a TV is between 6.67 pillows and 11.11 pillows. Or what is the same thing, the price of a pillow should be between 0.09 TV and 0.15 TV.
If price of TV is higher than 11.11 pillows, China will not buy TVs from USA because she can produce a TV at 11.11 pillows.
It price of TV is lower than 6.67 pillows, USA will not export any TV because it is lower than her cost of production.
2007-11-10 11:41 am
China: Price of a television is 11.11.....pillows ( 200/18)
America: price of a television is 6.66....pillows ( 200/30)
I think this is the way will do it, but I am not sure it is right or not, sorry
America: price of a television is 6.66....pillows ( 200/30)
I think this is the way will do it, but I am not sure it is right or not, sorry
參考: I just guess
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