Identify the commodity in which Mainland and Wishland have absolute advantage in. Identify the commodity in which Mainland and Wishland have comparative advantage in. (b) Indicate whether or not trade is possible and the basis for trade if possible.
The following table shows the bushels of corn and kgs of beef that Mainland and Wishland can produce per day when they use all their resources efficiently. =ELMO Mainland 240 120 Wishland 400 320 (a) Identify the commodity in which Mainland and Wishland have absolute advantage in. Identify the commodity in which Mainland and Wishland […]