If the United States could produce five televisions per hour of labor and China could produce...
If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labor, would it necessarily follow that the United States should specialize in television production? Why or why not?
Homework Answers
It can actually be mentioned that specialisation of trade actually involves comparative advantage but the question it is mentioned that United States produces 5 television and China 3 televisions per labour but justifies absolute advantage whereas comparative advantage actually measures the opportunity cost for producing the televisions and here no other good is mentioned and therefore it wouldn't mean necessarily that United States should specialise in television production on the whole.
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