Assume that both the U.S. and Germany produce beef and computer chips with following costs: Unit cost of beef Unit cost of computer chips U.S. DOLLARS Germany MARKS 2 1 8 2 1.What is MRT of beef and computer chips in each country? 2.Draw PPF of two nations under constant cost conditions, how much would the U.S. and Germany gain if 1unit of heef is exchange for 3chips? ㅈ

Assume that both the U.S. and Germany produce beef and computer chips with following costs: Unit cost of beef Unit cost of computer chips U.S. DOLLARS Germany MARKS 2 1 8 2 1.What is MRT of beef and computer chips in each country? 2.Draw PPF of two nations under constant cost conditions, how much would the U.S. and Germany gain if 1unit of heef is exchange for 3chips? ㅈ

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Figure 2-9 Snow cones 240 0 Greenland 200 Popsicles Snow cones 270 0 Iceland O 100 popsicles & 130 snow cones; 100 popsicles & 140 snow scones O 100 popsicles & 140 snow cones; 100 popsicles & 100 snow scones O 140 popsicles & 120 snow cones; 100 popsicles & 130 snow scones none of the above. 180 Popsicles Figure 2-9 shows the production possibilities frontiers for Greenland and Iceland. Each country produces two goods, snow cones and popsicles. With the opening of international trade, the agreed price between Iceland and Greenland for popsicles is 1.3. Assume that the country which now imports popsicles (with int'l trade) decides that it will import 100 units of popsicles. The new consumption bundles/points after international trade for Greenland and Iceland, respectively, are?
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Figure 2-9 Snow cones 240 0 Greenland 200 Popsicles A) Greenland Snow cones 270 0 Figure 2-9 shows the production possibilities frontiers for Greenland and Iceland. Each country produces two goods, snow cones and popsicles. C) Iceland Refer to Figure 2-9. Which country has a comparative advantage in the production of popsicles? B They have equal productive abilities. D) neither country Iceland 180 Popsicles
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