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17 October, 10:53

A German worker takes 400 hours to produce a car and 2 hours to produce a case of wine. A French worker takes 600 hours to produce a car and X hours to produce a case of wine. For what values of X will gains from trade be possible

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  1. 17 October, 11:07
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    Answer and Explanation:

    Given that

    Number of hours taken to produced a car by German worker is 400 hours

    In case of wine he takes 2 hours

    And, the Number of hours taken to produced a car by French worker is 600 hours

    In case of wine he takes X hours

    Based on the above information, the values of X gains from trade is based on the opportunity cost so in this there is a competitive advantage occurs so in this case the values should be other than 3 as 600 hours : hours = 300 hours

    Hence, the values should be other than 3
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