AP Macroeconomics Mkt 1 A a Define Absolute Advantage and Comparative Advantage B Determine Using Data From Ppcs or Tables As Appropriate Absolute and Questions

Compare output or input requirements, calculate opportunity costs from tables or PPCs, and identify each producer's absolute and comparative advantage.

Exam points

identify absolute advantage from greater output or lower input requirements
calculate each producer's opportunity cost from an output table, input table or PPC
identify comparative advantage from lower opportunity cost, including equal-cost cases

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Sweden and Norway use equal quantities of resources to produce food and capital goods. The table below shows the maximum possible production of food OR capital goods for each country.

Table for Question AP Macroeconomics Mkt 1 A a Define Absolute Advantage and Comparative Advantage B Determine Using Data From Ppcs or Tables As Appropriate Absolute and Questions question 1 — AP Macroeconomics

Which country has the comparative advantage in the production of capital goods? Explain.

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AP Macroeconomics Mkt 1 A a Define Absolute Advantage and Comparative Advantage B Determine Using Data From Ppcs or Tables As Appropriate Absolute and Questions question 1