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Suppose That In The United States Producing A Car Takes 10 000 Hours Of Labor An 1

Suppose that in the United States, producing a car takes 10,000 hours of labor and
producing a shirt takes 2
hours of labor. In China, producing a car takes 40,000 hours of labor
and producing a shirt takes 4 hours of labor.
a. What is the opportunity cost of producing 1 car for the United States? Repeat the
same computation for China.
b. What is the opportunity cost of producing 1 shirt for the United States? Repeat the
same computation for China.
c. Which country has a comparative advantage in producing cars?
d. Which country has a comparative advantage in producing shirts?
e. Can these countries benefit from trade? Explain.
f. If they trade, which country would export which product?
g. What are the range of prices the countries would trade?
 
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