$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

ECO3ITR International Trade

tag 0 Download9 Pages / 2,063 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

This is an individual assignment. It is marked out of 40 and contributes 40% to your overal assessment for this subject.
Due date: 9 September 2018, 23:00. Late submission will incur a 5% penalty each day after the due date. Submission will not be graded if the assignment is 5 days overdue.Attempt all the questions. The assignment should be typed and submitted electronically in pdf format as per details in the LMS.

Question 1: Absolute and Comparative Advantage Consider the following hypothetical situation, described in the table, showing unit labour requirements: Butter Cloth

a. In which commodity does Home have an absolute advantage? In which commodity does Foreign have an absolute advantage
b. How much will Home gain if it trades 5 units of butter for 3 units of cloth? How much would Foreign gain from the same trade
c. How much will Home gain if it trades 5 units of butter for 6 units of cloth? How much would Foreign gain from the same trade

Question 2: The Ricardian Model 
Consider the following hypothetical situation, described in the table, showing unit labour requirements:Motorbikes Skateboards

HOME has 1000 hours of labour available. FOREIGN has 1200 hours of labour available.
a. Draw the production possibility frontier for Home and Foreign.
b. In the absence of trade, what is the relative price of motorbikes in terms of skateboards in each country
c. Trade is believed to make each country better off by enlarging the range of consumption choices available to residents/consumers. Compare the consumption possibilities available to Home and Foreign consumers in the closed economy and, in the open/trading economy cases.Graph the expanded consumption opportunities. The relative price of skateboards in terms of motorbikes under free trade is given and equal to 4/5.

Question 3: The Ricardian Model 
Suppose two economies H and F produce two goods, X and Y, with only one input: labour. Production technology implies that unit labour requirements are given in the following table: 

Suppose that H has 2400 units of labour and F has 1800 units of labour.
a. What is the pattern of absolute advantage? Of comparative advantage Give a brief explanation.
b. Derive the Production Possibilities Frontier (PPF) for H and F. What is the autarky equilibrium price ratio in each country
c. What is the range of feasible equilibrium world price ratios
d. Suppose these countries trade with each other at some feasible world price ratio. Which country exports good X Why
e. Does trade equalize the real return to labour in Home and Foreign.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 9 pages, 1 USD Per Page

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help (2021) International Trade [Online]. Available from: https://myassignmenthelp.com/free-samples/eco3itr-international-trade-for-advantage/hypothetical-situation.html
[Accessed 20 April 2021].

My Assignment Help. 'International Trade' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/eco3itr-international-trade-for-advantage/hypothetical-situation.html> accessed 20 April 2021.

My Assignment Help. International Trade [Internet]. My Assignment Help. 2021 [cited 20 April 2021]. Available from: https://myassignmenthelp.com/free-samples/eco3itr-international-trade-for-advantage/hypothetical-situation.html.


MyAssignmenthelp.com is one of the noted service providers that deliver essay help. We provide tailored essay assistance to make sure that student gets online essay help exactly in the way they want it to be written. We at MyAssigemnthelp.com have built teams of consultants, who readily attend every query related to help me writing my essay. We provide essay writing help in forms of tips and steps in order o assist students with tough essay assignments.

Latest Marketing Samples

MKT510 Marketing And Management

Download : 0 | Pages : 6

Answer: A customer is usually considered to be the one to dominate the market. Therefore, they are considered to dominate the market and market trends. A producer would not be producing if a consumer did not exist. A customer gives the produce a motive to produce goods and services. The psychological process related to the emotions of a consumer makes up consumer behavior (David, 2016). It starts from need recognition, determining a way to so...

Read More arrow

HAT202 The Hospitality And Tourism Market

Download : 0 | Pages : 4

Answer Great Barrier Reef, located at the Whitsundays, offers one of the most exotic travel destinations in Australia. It presents a wonderful combination of delights for all types of travelers, from backpackers to leisure travelers, with luxury hotels, international standard restaurants, recreation activities and many more (tourismwhitsundays.com.au 2018). Whitsundays also offers a great business opportunity for the hospitality and tourism se...

Read More arrow

MKT101A Marketing Fundamentals

Download : 0 | Pages : 6

Answer: Dan Cummins Case Brief #1: Boa Technology Problem Statement:The main problem that the company is facing is to decide the pricing of the Cushion pads. They have to decide a price strategy which channels to market the pads. They need to develop marketing objectives on the selected pricing strategy. Situation Analysis:Correct pricing of the CMI pad to acquire market potential.  Company   Curled Metal Inc., -Engineered Pro...

Read More arrow

156235 Social Media & Digital Marketing

Download : 0 | Pages : 9

Answer: The key to a successful business lies in the economic stability of any country, its demographic characteristics which is accordant to the intended market (Howson, 2007). In order to start a restaurant business, it takes a lot of effort in coming up with a business plan that will decide its feasibility as the implementation process moves ahead. It requires an appropriate plan and a good investment which can be given from the owners of t...

Read More arrow

MRKT20052 Marketing Management And Digital Communications

Download : 0 | Pages : 4

Answer: Introduction Marketing is the major reasons for success for any company. At the time of Christmas almost all the companies tries to attract people. For this they suit advertisement campaigns. Some are highly attractive and some are able to do so. In the current business environment, any unsuccessful marketing campaign can lead to huge business failure especially when there is battle going on in the marketing space (Kraus & Myrick,...

Read More arrow Tags: Australia Melbourne Management University of Melbourne 
Next

Save Time & improve Grade

Just share requirement and get customized Solution.

watch
question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

Add File

Error goes here

1,655,493

Orders

4.9/5

Overall Rating

5,121

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 4/5

3076 Order Completed

99% Response Time

Emily Wei

Doctor of Philosophy (Ph.D) in Civil Engineering

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1592 Order Completed

96% Response Time

Jane Sima

Ph.D in Psychology with Specialization in Industrial-Organizational Psychology

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

755 Order Completed

95% Response Time

Douglas Cowley

Masters in Finance with Specialization in Audit

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1692 Order Completed

98% Response Time

Alfred Dodd

PhD in Computer and Information Science with specialization in Database

Wellington, New Zealand

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

It was perfect I don\'t have to get it redone really on point and very happy with it thanks so much. You guys are a lifesaver

flag

User Id: 205927 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

Good work from them!! Great service!! They didn’t make me wait on my work I got it on time!!

flag

User Id: 669921 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

a great work. to be honest i was\'t sure if the expert would get everything right, but it turned really well.

flag

User Id: 229166 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

The work has been done properly, exactly as required. I\'m very happy with it. Thanks to the expert for such a masterpiece.

flag

User Id: 557066 - 19 Apr 2021

Australia

student rating student rating student rating student rating student rating

Order on the go!

Say hello to our new app

callback request mobile
Have any Query?