Answer to Question #73343 in Macroeconomics for june

Question #73343

(Absolute and Comparative Advantage) information concerning the production of wheat and corn in the United States and Russia?
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Millions of tons of grain produced in one year

Russia wheat 15 Corn 150
U.S Wheat 60 Corn 300

a. What is the opportunity cost of producing a unit of wheat in Russia? In the United States?
b. Which country has an absolute advantage in producing wheat? In producing corn?
c. Which country has a comparative advantage in producing wheat? In producing corn?
d. Which country should specialize in producing wheat? In producing corn?

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