Securing Higher Grades Costing Your Pocket? Book Your Coursework Help at The Lowest Price Now!

  • +1-617-874-1011 (US)
  • +44-117-230-1145 (UK)
Online Customer Service

ECO3ITR Advantage in Producing

This is an individual assignment. It is marked out of 40 and contributes 40% to your overal assessment for this subject.
Due date: 9 September 2018, 23:00. Late submission will incur a 5% penalty each day after the due date. Submission will not be graded if the assignment is 5 days overdue.Attempt all the questions. The assignment should be typed and submitted electronically in pdf format as per details in the LMS.

Question 1: Absolute and Comparative Advantage Consider the following hypothetical situation, described in the table, showing unit labour requirements: Butter Cloth

a. In which commodity does Home have an absolute advantage? In which commodity does Foreign have an absolute advantage
b. How much will Home gain if it trades 5 units of butter for 3 units of cloth? How much would Foreign gain from the same trade
c. How much will Home gain if it trades 5 units of butter for 6 units of cloth? How much would Foreign gain from the same trade

Question 2: The Ricardian Model 
Consider the following hypothetical situation, described in the table, showing unit labour requirements:Motorbikes Skateboards

HOME has 1000 hours of labour available. FOREIGN has 1200 hours of labour available.
a. Draw the production possibility frontier for Home and Foreign.
b. In the absence of trade, what is the relative price of motorbikes in terms of skateboards in each country
c. Trade is believed to make each country better off by enlarging the range of consumption choices available to residents/consumers. Compare the consumption possibilities available to Home and Foreign consumers in the closed economy and, in the open/trading economy cases.Graph the expanded consumption opportunities. The relative price of skateboards in terms of motorbikes under free trade is given and equal to 4/5.

Question 3: The Ricardian Model 
Suppose two economies H and F produce two goods, X and Y, with only one input: labour. Production technology implies that unit labour requirements are given in the following table: 

Suppose that H has 2400 units of labour and F has 1800 units of labour.
a. What is the pattern of absolute advantage? Of comparative advantage Give a brief explanation.
b. Derive the Production Possibilities Frontier (PPF) for H and F. What is the autarky equilibrium price ratio in each country
c. What is the range of feasible equilibrium world price ratios
d. Suppose these countries trade with each other at some feasible world price ratio. Which country exports good X Why
e. Does trade equalize the real return to labour in Home and Foreign.

Buy ECO3ITR Advantage in Producing Answers Online

Talk to our expert to get the help with ECO3ITR Advantage in Producing Answers to complete your assessment on time and boost your grades now

The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.

Get Online Support for ECO3ITR Advantage in Producing Assignment Help Online

Resources

    • 24 x 7 Availability.
    • Trained and Certified Experts.
    • Deadline Guaranteed.
    • Plagiarism Free.
    • Privacy Guaranteed.
    • Free download.
    • Online help for all project.
    • Homework Help Services

Tap to Chat
Get Instant Assignment Help
Tap to Chat
Get Instant Assignment Help