Back to Assignment Attempts Average /5 Working with Numbers and Graphs Q9 The following table summarizes the combinations of goods X and Y that two individuals, Nicki and Kamal, can each produce individually. Nicki Каmal Y Y 100 150 50 75 37.5 10 75 If each person specializes in the production of the good for which they have the comparative advantage, then Kamal v would specialize in the production of good Y, and Nicki v would specialize in the production of good X. (Hint: Calculate the opportunity cost of producing X and Y for each individual.) Suppose that Kamal and Nicki each specializes in the production of the good in which each has a comparative advantage. Fill in the top row of the following table to indicate Kamal's and Nicki's output of each good. Nicki Kamal Y Y Before Trade, with Specialization After Trade After specialization, suppose the two agree on a price of 9 units of good X for each unit of good Y. When the two individuals make the trade, they exchange 90 units of good X for 10 units of good Y. Recall that the individual who has specialized in the production of X would trade 90 units of good X and receive 10 units of good Y, while the individual who specialized in the production of good Y would trade 10 units of good Y and receive 90 units of
Back to Assignment Attempts Average /5 Working with Numbers and Graphs Q9 The following table summarizes the combinations of goods X and Y that two individuals, Nicki and Kamal, can each produce individually. Nicki Каmal Y Y 100 150 50 75 37.5 10 75 If each person specializes in the production of the good for which they have the comparative advantage, then Kamal v would specialize in the production of good Y, and Nicki v would specialize in the production of good X. (Hint: Calculate the opportunity cost of producing X and Y for each individual.) Suppose that Kamal and Nicki each specializes in the production of the good in which each has a comparative advantage. Fill in the top row of the following table to indicate Kamal's and Nicki's output of each good. Nicki Kamal Y Y Before Trade, with Specialization After Trade After specialization, suppose the two agree on a price of 9 units of good X for each unit of good Y. When the two individuals make the trade, they exchange 90 units of good X for 10 units of good Y. Recall that the individual who has specialized in the production of X would trade 90 units of good X and receive 10 units of good Y, while the individual who specialized in the production of good Y would trade 10 units of good Y and receive 90 units of
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9. Working with Numbers and Graphs Q9
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The following table summarizes the combinations of goods X and Y that two individuals, Nicki and Kamal, can each produce individually.
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Nicki
Kamal
? Help
Y
Y
O Give Feedback
100
150
50
75
37.5
10
75
If each person specializes in the production of the good for which they have the comparative advantage, then Kamal v would specialize in the
production of good Y, and Nicki v would specialize in the production of good X. (Hint: Calculate the opportunity cost of producing X and Y for
each individual.)
A
Suppose that Kamal and Nicki each specializes in the production of the good in which each has a comparative advantage.
Fill in the top row of the following table to indicate Kamal's and Nicki's output of each good.
Nicki
Kamal
X
Y
X
Y
Before Trade, with Specialization
After Trade
After specialization, suppose the two agree on a price of 9 units of good X for each unit of good Y. When the two individuals make the trade, they
exchange 90 units of good X for 10 units of good Y. Recall that the individual who has specialized in the production of X would trade 90 units of good X
and receive 10 units of good Y, while the individual who specialized in the production of good Y would trade 10 units of good Y and receive 90 units of
good X.
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