1. Assume that Japan and Korea can switch between producing cars and producing airplanes at a constant rate.Hours Needed to Make 1Quantity Produced in 2400 HoursCarAirplaneCarsAirplanesJapan301508016Korea501504816Refer to Table 3-26. Japan's opportunity cost of one airplane isO a.1/5 car and Korea's opportunity cost of one airplane is 1/3 car.O b. 5 cars and Korea's opportunity cost of one airplane is 1/3 car.O c.1/5 car and Korea's opportunity cost of one airplane is 3 cars.O d. 5 cars and Korea's opportunity cost of one airplane is 3 cars.

The potential gains that an individual, investor, or organization misses out on by choosing one…

Answered: Assume that Japan and Korea can switch…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 30P: In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10...

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lee and Tre produce two goods in an 8-hour day. lee can produce 10 capital or 55 consumables and Tre can produce 75 capital and 60 consumables. Who has the absolute advantage I the production of consumables? Who has the absolute advantage in the production of capital? Who has a comparative advantage in the production of capital? Who has a comparative advantage in the production of consumables? What is the opportunity cost for capital?
Suppose that there are 10 million workers inCanada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year. a. What is the opportunity cost of producing acar in Canada? What is the opportunity costof producing a bushel of wheat in Canada?Explain the relationship between the opportunity costs of the two goods. b. Draw Canada’s production possibilities frontier. If Canada chooses to consume 10 millioncars, how much wheat can it consume without trade? Label this point on the productionpossibilities frontier. c. Now suppose that the United States offers tobuy 10 million cars from Canada in exchangefor 20 bushels of wheat per car. If Canadacontinues to consume 10 million cars, howmuch wheat does this deal allow Canada toconsume? Label this point on your diagram.Should Canada accept the deal?
c ) After trade , if Canada still wishes to have 90 bushels of wheat , how many more DVDs could it have ? e ) If Japan still wishes to have 15 DVDs , how much more bushels of wheat could it have ?
The table below shows the production possibilities for Canada and Japan. Suppose that, prior to specialization and trade, both Canada and Japan are producing combination C. Product DVD players Bushels of wheat Product DVD players Bushels of wheat 100 players 80 60 A 20 0 A Canada A 40 0 B 15 20 B 30 7.5 CANADA'S PRODUCTION POSSIBILITIES C 10 40 JAPAN'S PRODUCTION HACH POSSIBILITIES C 20 15 Tools PP Curve combination Trading Possil New combina 80 E 30 0 0 E A
2. Comparative and absolute advantage Clancy and Eileen are farmers. Each one owns a 10-acre plot of land. The following table shows the amount of rye and corn each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing rye or corn or to produce rye on some of the land and corn on the rest. Rye Corn (Bushels per acre) (Bushels per acre) Clancy 12 6 Eileen 20 4
go.view.usg.edu/ Question If the production of wheat increases from point B to point A, what is the opportunity cost? Reflect in ePortfolio Tons of Wheat 100 90 75 45 25 A 20 B 75 80 F 90 D 100
Country Airplanes produced in 100 worker hrs Dishwashers produced in 100 worker hrs Microtania 1000 450 Portlandia 550 1000 Fill in the table below representing the opportunity cost of producing each item (in terms of the other item) in each country. Country Opportunity cost of producing Airplanes Opportunity cost of producing dishwashers Microtania Portandia
Need help with micro multiple choice question
A4 Give me all answer I Will give you upvot
CASHEWS (Pounds) O a. 1/10 hour O b. 1/3 hour O c. 3 hours O d. 10 hours 400 360 320 280 240 200 160 120 80 40 Figure 3-2 Brazil's PPF 1 2 3 4 5 6 7 8 9 10 PEANUTS (Pounds) Refer to Figure 3-2. If the production possibilities frontier shown is for 24 hours of production, then how long does it take Brazil to make one pound of peanuts?
When a country has a comparative advantage in the production of a god, t means that it can produce this good at a lomer opportunity cost than its trading partner. Then the country will specialize in the production of this good and trade it for other goods. The following graphs show the production possibilities frontiers (PPFs) for Maldonia and Desania. Both countries produce lemons and tea, each intialy (i.e, befare spedialization and trade) producing 24 million pounds of lemons and 12 milion pounds of tea, as indicated by the grey stars marked with the letter A. Maldonia Desonia 40 24 PPF 2 41 s LEMONS (Miliona of pounda) 16 34 2 4 16 34 LEMONS (Mona of pounda) Maldonia has a comparative advantage in the production of . while Desonia has a comparative advantape in the ▼ . Suppose that Maidonia and Desonia specialize in the production of the goods in which each has a comparative advantage. Alter specialization, the two countries can produce a total of 45 milion pounds of tea and48…
based off first pic , how will you fill in the blanks for the other pic

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