Business, 14.04.2020 20:27 mtolds1952

Below are the production possibilities for both the United States and Columbia for wheat and coffee. Draw the resulting linear production possibilities in an Excel spreadsheet and calculate the opportunity cost of wheat and coffee for both countries. Which country has a comparative advantage in wheat and which has a comparative advantage in coffee production? Now assume that productivity in wheat production in the United States has improved by 25% and Columbia's productivity in coffee production has declined by 20%. Now draw the new production possibilities for both countries and recalculate the opportunity cost for each good for both countries.

United States
Coffee Wheat
0 400
300 0

Columbia
Coffee Wheat
0 100
200 0

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Below are the production possibilities for both the United States and Columbia for wheat and coffee....

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