Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier 20 Totea 20 (ix pounds) (spunot uz) 18 18 16 16 14 14 12 12 10 - 10 8 6- 2 10 12 14 16 18 20 cofee (in pounds 2 4 68 10 12 14 16 18 20 cotee 2 4 6 8 spunod az) Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of pounds of coffee and pounds of soybeans could Chile and Colombia together not make in a given day? O a. 4 pounds of coffee and 17 pounds of soybeans O b. 8 pounds of coffee and 14 pounds of soybeans O c. 16 pounds of coffee and 9 pounds of soybeans O d. 24 pounds of coffee and 3 pounds of soybeans

Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier 20 Totea 20 (ix pounds) (spunot uz) 18 18 16 16 14 14 12 12 10 - 10 8 6- 2 10 12 14 16 18 20 cofee (in pounds 2 4 68 10 12 14 16 18 20 cotee 2 4 6 8 spunod az) Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of pounds of coffee and pounds of soybeans could Chile and Colombia together not make in a given day? O a. 4 pounds of coffee and 17 pounds of soybeans O b. 8 pounds of coffee and 14 pounds of soybeans O c. 16 pounds of coffee and 9 pounds of soybeans O d. 24 pounds of coffee and 3 pounds of soybeans

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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8. Problems and Applications Q8 Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. There are 1 million workers in each country. Use the blue line (circle symbol) to graph the production possibilities frontier (PPF) for the United States, and use the green line (triangle symbol) to graph the production possibilities frontier for China. Quantity of Computers (Millions) 30 27 24 21 is 18 15 12 9 6 3 0 0 10 20 30 50 60 70 Quantity of Shirts (Millions) 40 90 100 If these countries were open to trade, trade. U.S. PPF China PPF + Suppose that without trade the workers in each country spend half their time producing each good. U.S. without Trade Use the black point (plus symbol) to indicate this production and consumption point for the United States, and use the grey point (star symbol) to indicate this production and consumption point for China. True or False: There are no longer gains from trade. China…