i need Solution of 7 part just Q2: There are two countries named Lilliput and Brobdingnag. We have theproduction possibilities tables for apples and bananas for both countries. Usethis data to fill in the blanks below.|Lilliput Production Possibilities:Brobdingnag Production Possibilities:Production AlternativesProduction AltermativesProduction (Ibs)ABCD EApplesBananasProduction(lbs)ApplesABCD75 60 45 30FE403224168.154812 16 20Bananas10 15 20 25la. Which country has absolute advantage in production of the following good?Please state the name of the country in front of each good. Bananas:Your answer1b. Which country has absolute advantage in production of the following good?Please state the name of the country in front of each good. Apples:Your answer2a. In Lilliput, the cost of producing: 1 apple is:bananas. 4. The cost of producing 1 apple is lower in thecountry.Your answer5. The cost of producing 1 banana is lower in thecountry.Your answer6. Lilliput has a comparative advantage in the production ofYour answer7. Brobdingnag has a comparative advantage in the production ofYour answer

A country has comparative advantage in that good which it can produce at lower opportunity cost (OC)…

Answered: 7. Brobdingnag has a comparative…

Business

Economics

7. Brobdingnag has a comparative advantage in the production of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: eBook A father is now planning a savings program to put his daughter through college. She is 13,…

A: Average rate of inflation is 5% annually. So if she enrolls in a 4 year program after 5 years, total…

Q: With an interest rate of 7%, how much money can be lent now if $15,000 will be repaid at the end of…

A: Interest rate (r) = 7% or 0.07 Accumulated amount (A) = $15000 Time period (n) = 5

Q: Which interest rate should be deposited in order to be $ 20000 in 12 years as 5000 TL. Show your…

A: Given Information Principal(A) = 5,000Time(t) = 12 yearsFinal Amount(A) = 20,000 Interest rate(r) =…

Q: Suppose you are offered two options: (i) receive Taka 30,000 at the end of 5 years or (ii) receive…

A: Future value is the value of present money or the cash flow that Future value refers to the present…

Q: In the lottery, the lucky winner won 3000000 (three million) TL. With this together the bonus has…

A: The winning amount = 3000000 First payment plan = 350000 per year Time period = 10 years Interest…

Q: If you stay in-state you can attend college for $6000 let year, but pay $950 per month in rent. Or…

A: Option A (in state)College fees=$6000Annual rent=$950*12=$11400Annual cost=$6000+$11400=$17400

Q: If $700 is invested at 11% simple interest, calculate its value after 8 years.

A: Following are the given values: Invested amount = $700 Interest rate = 11% Time = 8 years

Q: Subject: Engineering Economics Please write handwritten Answer And Explain Briefly Please don't…

A: Future Value = P x {(1+r)n-1}/r Given;r =10%n = 30P = 20,000 Future value = 20000 x (1+0.1)30-1/0.1…

Q: To making a robotic hardware for computer integrated manufacturing systems (CIM), Digital Devices…

A: Compound interest is the rate of interest that is calculated on the principal amount by taking into…

Q: W(15%)A = -$12,500 – $5,000(P/A, 15%, 2) – $3,000(P/F, 15%, 3) %3! - $11,000(P/A, 15%, 2)(P/F, 15%,…

A: We have, Purchase price => $12,500 Maintenance cost = $5000 Salvage value => $3000 Tax…

Q: When can we use the Cash-Flow Approach?

A: Cash flow is the net transfer of cash and cash equivalents to and from a business. The ability of a…

Q: A man invests P 20,000 now for the college education of his 2 year old son. If the fund earns 10%…

A: It is given that the investment is made when the son age was 2 years so first it is required to find…

Q: on may 29, 2017, leah deposited $498 into a savings account that earned simple interest of 1.27%.…

A: Here total days for which the interest will be calculated are 3days in May , 30 days in June and 28…

Q: Time Value of Money Multiple Interest Formula The amounts are $100 for the first year, $200 for…

A: Ist year payment = $100IInd year payment = $200 IIIrd year payment = $500Fourth to Eighth year…

Q: ecoeco have borrowed $10000 from bank with the understanding that you will pay it off with lump sum…

A: The future value = $12000 Present value = $10000 Time period (n) = 2 years

Q: Question 11 of 11 View Policies Current Attempt in Progress Natasha takes out a loan. The interest…

A: At month t she owes $14000 At month t+1, she owes $14000(1+(0.09/12))=14105 After this payment is…

Q: f you loan your friend $1500 today and she gives you $2000 back in four years what is your annual…

A: Present value is the value of investment in today's dollar. Future value is the value of investment…

Q: e maintenance for a piece of equipment costs $300 at the end of year 1, and increases by 15% every…

A: Given Information A = Payment at EOY 1 = $300g = Gradient Percent = 15%n = Number of Periods = 5…

Q: Р МС $4.00 ATC $3.00 D $2.50 $2.00 MR 3,000 3,500 4,000

A: The demand curve will intersect the price axis at the maximum price possible and the quantity at…

Q: Mary plans to borrow $10,000 now to start a business. She promised to repay the entire principal…

A: Compound interest: A=P1+r100nWhere, A=AmountP=Principalr=Rate of interestn=Time(In years)

Q: simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in…

A: Monthly payment = $111.73 Term of loan = 24 months Thus, total payment after down payment =…

Q: Questions of the day: economics A man decides to deposit Dollar 2730 at the end of each year in a…

Q: Example: Suppose $1500 is deposited at the end of each year for the next 6 years in an account…

A: The amount of annuity (A) = $1500 Total number of years (n) = 6 Interest rate ( r ) = 8%

Q: Solve all parts with proper calculation and explanation

A: In this problem, the dependent variable (y) is the insurance policy because it is the variable that…

Q: Komal borrows $18,000 from her father to open her accounting practice. She cashed in a $10,000…

A: Loans refer to financial instruments used to extend debt in terms of money, property, or other…

Q: You want to borrow $1500 at 8% and you are willing to pay $210 in simple interest.How long can you…

A: Present value is the value of investment in today's dollar. Future value is the value of investment…

Q: If you wish to have $800 in your savings account at the end of 4 years with 5% APR interest. How…

A: solution:-

Q: Barbara wants to triple the money currently in her account that earns 3.5% per year interest. How…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: You've got lucky and about to get married. You are looking for an apartment to buy. Your savings…

A: Lenders charge borrowers an interest rate based on a percentage of the principal, which is the…

Q: You deposit a sum d in a bank account in year zero. The rate of interest on deposits is r, and…

A: The objective of the question is to find the formula for the amount of money in a bank account after…

Q: If you have 20 notes of prize bond, each hast the worth Rs. 1500. Can we term these prize bond as…

A: If I have 20 notes of prize bond, each hast the worth Rs. 1500. Then YES, these prize bond can be…

Q: A gamer decides to buy the latest state-of- the-art gaming laptop. The gamer sets aside a value of…

A: A gamer decide to buy new laptop. This laptop seller agrees with down payment of laptop on monthly…

Q: You need P 4000 per year for four years to go to college. Your father invested P8000 in 7% account…

A: At the birth of a child, the father invested P8000, we know that if we invest x(let) @ 7% then…

Q: 1. Calculate the following questions with an interest rate of 11% per year, calculate the following…

A: The present value of money indicates that the amount of money today is more valuable than the same…

Q: An engineering company borrows 100,000 at 10% per year compound interest and will pay the principal…

A: Amount Borrow = 100,000 interest rate = 10% n = 3 years

Q: A mom would like to open a savings account for her new born son's university education. Her plan is…

A: Since it is given that the annual saving is $5000 but in the 5th year there is no saving and at the…

Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

i need Solution of 7 part just

Q2: There are two countries named Lilliput and Brobdingnag. We have the
production possibilities tables for apples and bananas for both countries. Use
this data to fill in the blanks below.
|Lilliput Production Possibilities:
Brobdingnag Production Possibilities:
Production Alternatives
Production Altermatives
Production (Ibs)ABCD E
Apples
Bananas
Production(lbs)
Apples
ABCD
75 60 45 30
F
E
40
32
24
16
8.
15
4
8
12 16 20
Bananas
10 15 20 25
la. Which country has absolute advantage in production of the following good?
Please state the name of the country in front of each good. Bananas:
Your answer
1b. Which country has absolute advantage in production of the following good?
Please state the name of the country in front of each good. Apples:
Your answer
2a. In Lilliput, the cost of producing: 1 apple is:
bananas.

4. The cost of producing 1 apple is lower in the
country.
Your answer
5. The cost of producing 1 banana is lower in the
country.
Your answer
6. Lilliput has a comparative advantage in the production of
Your answer
7. Brobdingnag has a comparative advantage in the production of
Your answer

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

(Part 7) Step 1.

VIEW

(Part 7) Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

3 A sum of $6000 is invested at an interest rate of 7% per year. Find the time required fokthe Money to double if the interest is compounded according to the following method.
How much can Sheila borrow on a credit card charging an APR of 17% over a period of 5 years if she wants to keep her payments to not exceed $300 every month end, if the credit card company compounds money on a daily basis?
A loan for P 60,000.00 is to be paid in 4 years at the amount of P 75,000.00 . What is the effective rate of money?
1
An apartment has an annual rent of 24,000 NIS and a contract that has to be renewed every 2 years. Consider an interest rate of 7% per year and answer the following: a. If you want to rent the apartment for 6 years and pay now the total amount, how much should you pay? b. If the contract cost increases by 25% every 2-year renewal, how much will the new total amount change?
Loan payments of $2,750 due 96 days ago and $3,100 due today are scheduled to be repaid with a payment of $3,620 in 33 days and the balance in 129 days. If money earns 6% p.a. simple interest, what is the size of the final payment? Use 129 days from today as the focal date. Round to the nearest cent. Only handwritten answer with clear handwriting I'll upvote your answer
Assume that someone have to pay tuition for four years. Two years at RCC school and then two years at Northeastern University. Two years at RCC cost $25000 for Two years at Northeastern University $144000 That person then get a fulltime engineering job for $90000/yr. What is that person own simple payback period and his/her ROI for paying for school in order to get that Engineering job?
You deposited P200,000 at BPI with an interest rate of 4% compounded semi-annually. What is the worth of your money after 5 years and six months?
Mr. Allahditta who runs a general store at Jodia Bazar, a customer namely Mr. Arif visited his shop and demanded 100 bags of Basmati rice, Mr. Allahditta demanded Rs. 3,000/- per bag. Mr. Arif accepted the same price & paid the whole amount, he also instructed to deliver in his godown which is located at Site area on next day, however Mr. Allahditta delivered on same day on given address. Whether Mr. Allahdita violated any law, as he did not delivered on next day? Answer must be in (Yes or No) Give reason to support your answer in part a
WITH SIMPLE INTEREST OF FIND THE PRESENT WORTH OF T 20,000D WHICH DUE At THE FND OF MONTHS.
Fast pls solve this question correctly in 5 min pls I will give u like for sure Svtrik An early payment of $4574.73 was accepted instead of a scheduled payment of $4850.00, allowing for interest at the rate of 8.75%. How many days early was the payment? (The answer is 251 days early but not sure how to get that answer)
MANUAL SOLUTION AND CASH FLOW DIAGRAM