The table below shows the input requirement in labor-hours needed to produce one unit of Wheat and one unit of Solar Panels in Country Alpha and Country Beta:
| Country | Wheat (1 unit) | Solar Panels (1 unit) |
|---|---|---|
| Country Alpha | 4 labor-hours | 8 labor-hours |
| Country Beta | 6 labor-hours | 18 labor-hours |
Based on the principle of comparative advantage, which of the following statements correctly identifies the specialization pattern for both countries and the mutually beneficial terms of trade range for 1 unit of Solar Panels?
- Country Alpha specializes in Solar Panels, Country Beta specializes in Wheat, and 1 Solar Panel exchanges for between 2 and 3 units of Wheat.Cevap
- BCountry Alpha should produce both goods because it has an absolute advantage in both, while Country Beta should not engage in international trade.
- CCountry Beta specializes in Solar Panels and Country Alpha specializes in Wheat because Beta requires more total labor-hours for industrial production.
- DCountry Alpha specializes in Solar Panels, Country Beta specializes in Wheat, and 1 Solar Panel exchanges for between 0.33 and 0.50 units of Wheat.
Cevap
Country Alpha specializes in Solar Panels, Country Beta specializes in Wheat, and 1 Solar Panel exchanges for between 2 and 3 units of Wheat.
Country Alpha needs 8 labor-hours for 1 Solar Panel and 4 labor-hours for 1 Wheat, meaning 1 Solar Panel costs 2 units of Wheat. Country Beta needs 18 labor-hours for 1 Solar Panel and 6 labor-hours for 1 Wheat, meaning 1 Solar Panel costs 3 units of Wheat. Alpha has a lower opportunity cost in Solar Panels and should specialize in them, while Beta has a lower opportunity cost in Wheat (0.33 Solar Panels vs 0.5 Solar Panels) and should specialize in Wheat. For trade to benefit both nations, 1 Solar Panel must buy more Wheat than Alpha can produce internally (2 units) but less than Beta must forego internally (3 units).
Adım Adım Çözüm
Anahtar Kavram
Law of Comparative Advantage (Input-based Calculation)