Business, 20.02.2020 07:59 tthompson7186

England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 40 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 20 scones per hour or 2 sweaters per hour.

(English/Scottish) workers have an absolute advantage in producing scones, and (English/Scottish) workers have an absolute advantage in producing sweaters.

(English/Scottish) workers have a comparative advantage in producing scones, and (English/Scottish) workers have a comparative advantage in producing sweaters.

If England and Scotland decide to trade, Scotland will trade (Scones/Sweaters) to England.

If a Scottish worker could produce only 1 sweater per hour, Scotland (Would No Long/Would Still) gain from trade, and England (Would No Long/Would Still) gain from trade.

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England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 40...

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