Essay Topic: Here are some hypothetical numbers used to illustrate the ideas of trade-offs, specialization, and comparative advantage. Assume Sri Lanka, using all her resources efficiently, can produce either 2,000 bags of rice OR 6,000 bags of tea. Let’s also assume that, using all her resources efficiently, Kenya can produce either 2,000 bags of rice OR 2,000 bags of tea. Further, assume that the countries have similar resource endowments and that, initially, they are not trading with each other. Therefore, each of the countries has to produce both rice and tea for its citizens. Suppose that, in the no-trade situation, Sri Lanka was consuming 800 bags of rice and 3,200 bags of tea, and in the no-trade situation, Kenya was consuming 1,000 bags of rice and 1,000 bags of tea. The trading price is set at one bag of rice for two bags of tea, and Kenya wishes to keep at least 1,100 bags of rice after trade. Refer to my Module 8 notes on the production possibilities curve and how comparative advantage is the basis for trade. For the prompt, Determine if there is any benefit (in terms of increased consumption possibilities) for Sri Lanka and Kenya if they trade with each other. Requirements: Apply your knowledge of opportunity cost to identify the comparative advantage enjoyed by each country. Now using your knowledge of specialization and trade, show that the two countries can benefit by consuming more of both goods after trade. Develop a multi-paragraph response with a introduction, main section, and conclusion that includes examples and evidence to support your ideas. Organize your response in a clear and logical manner using proper economic reasoning. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English. The response must be in your own words. Do not use quotes or references. You must properly use economic concepts and terms. Identify the basic principles of economics and explain how opportunity cost determines comparative advantage. Apply the concepts of opportunity cost and marginal analysis to make decisions that gain comparative advantage. PAPER MUST BE 1,200 WORDS!
Why Hire a Professional Essay Writer from MyPaper Support
Quality Urgent Essays
MyPaper Support online platform provides the best essay writing service ever received elsewhere, thanks to our professional essay writers. Experience gained in the 10+ years of being in the assignment writing industry is also an added advantage.
Professional and Experienced Academic Writers
A lot is done to maintain us as the best essay writing service provider. Besides owning a degree from a recognized university, a writer must pass the rigorous tests we take them through before they are considered eligible to offer urgent essay help on our website.
Affordable Urgent Assignment Help
Who said a reliable website should not be cheap also? While it is human nature to associate prices with quality, that does not always work. At mypapersuppport.com, we guarantee you cheap and urgent essay help without compromising the quality.
24/7 Available Urgent Essay Writing Service
Whether it is a ‘write my essay for me cheap’ or ‘edit my essay’ order you want to request, always feel free to reach us at any time of the day. Our experts work in shifts to ensure that you access urgent essay writing services at any time of the day.
Plagiarism Free Essays Online
The punitive measures that come with plagiarized content are so harsh, and we understand that. We consequently ensure to write each client’s papers from scratch no matter how urgent the essay is. To acknowledge borrowed content, our quick writer references and cites the work.
Wow Customer Support 24/7
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
So much stress and so little time? Take care of yourself: let us help you with your tasks. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission and Business Papers
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Editing and Proofreading
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.