Analyze the following (2x2) matrix. Identify the countries having certain advantages. Specify the benefits of trade for both countries.The matrix involves 2 countries exchanging 2 commodities. Textiles (Labor-hours/unit of Output) Wine (Labor-hours/Unit of output) Portugal 90 80 England 100 120 (Numbers in the above matrix reflect labor hours per unit of output) What are the analysis of the above matrix?

Analyze the following (2x2) matrix. Identify the countries having certain advantages. Specify the benefits of trade for both countries. The matrix involves 2 countries exchanging 2 commodities....

Analyze the following (2x2) matrix. Identify the countries having certain advantages. Specify the benefits of trade for both countries.

The matrix involves 2 countries exchanging 2 commodities.

	Textiles (Labor-hours/unit of Output)	Wine (Labor-hours/Unit of output)
Portugal	90	80
England	100	120

(Numbers in the above matrix reflect labor hours per unit of output)

What are the analysis of the above matrix?

Jun 07, 2022