Not graded homework question COFFEE (Millions of pounds)32282400PPF41FreedoniaA8 12 16 20 24LEMONS (Millions of pounds)28 32(?COFFEE (Millions of pounds)32282400PPF4Desonia24 28 328 122016LEMONS (Millions of pounds)Freedonia has a comparative advantage in the production of, while Desonia has a comparative advantage in theproduction ofSuppose that Freedonia and Desonia specialize in the production of the goods in which each has amillion pounds of coffee and million pounds ofcomparative advantage. After specialization, the two countries can produce a total oflemons.Suppose that Freedonia and Desonia agree to trade. Each country focuses its resources on producing only the good in which it has a comparativeadvantage. The countries decide to exchange 12 million pounds of lemons for 12 million pounds of coffee. This ratio of goods is known as the price oftrade between Freedonia and Desonia.The following graph shows the same PPF for Freedonia as before, as well as its initial consumption at point A. Place a black point (plus symbol) on the Homework (Ch 03)The following graph shows the same PPF for Freedonia as before, as well as its initial consumptiongraph to indicate Freedonia's consumption after trade.Note: Dashed drop lines will automatically extend to both axes.COFFEE (Millions of pounds)3228241603242824TrueFreedonia8121620LEMONS (Millions of pounds)4FalseThe following graph shows the same PPF for Desonia as before, as well as its initial consumption at point A.As you did for Freedonia, place a black point (plus symbol) on the following graph to indicate Desonia's consumption after trade.Desonia281216LEMONS (Millions of pounds)2832+32Consumption After Tradet point A. Place a black point (plus symbol) on the?+Consumption After TradeTrue or False: Without engaging in international trade, Freedonia and Desonia would not have been able to consume at the after-trade consumptionbundles. (Hint: Base this question on the answers you previously entered on this page.)

Given that the countries Freedonia and Desonia are producing lemons and coffees (in millions of…

COFFEE (Millions of pounds) 32 28 24 20 0 0 PPF 4 Freedonia 8 12 16 20 24 LEMONS (Millions of pounds) 28 32 COFFEE (Millions of pounds) 32 28 24 20 0 0 PPF 4 1 Freedonia has a comparative advantage in the production of production of comparative advantage. After specialization, the two countries can produce a total of lemons. Desonial 8 12 16 20 24 LEMONS (Millions of pounds) 28 32 while Desonia has a comparative advantage in the Suppose that Freedonia and Desonia specialize in the production of the goods in which each has a million pounds of coffee and million pounds of

COFFEE (Millions of pounds) 32 28 24 20 0 0 PPF 4 Freedonia 8 12 16 20 24 LEMONS (Millions of pounds) 28 32 COFFEE (Millions of pounds) 32 28 24 20 0 0 PPF 4 1 Freedonia has a comparative advantage in the production of production of comparative advantage. After specialization, the two countries can produce a total of lemons. Desonial 8 12 16 20 24 LEMONS (Millions of pounds) 28 32 while Desonia has a comparative advantage in the Suppose that Freedonia and Desonia specialize in the production of the goods in which each has a million pounds of coffee and million pounds of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Not graded homework question

COFFEE (Millions of pounds)
32
28
24
0
0
PPF
4
1
Freedonia
A
8 12 16 20 24
LEMONS (Millions of pounds)
28 32
(?
COFFEE (Millions of pounds)
32
28
24
0
0
PPF
4
Desonia
24 28 32
8 12
20
16
LEMONS (Millions of pounds)
Freedonia has a comparative advantage in the production of
, while Desonia has a comparative advantage in the
production of
Suppose that Freedonia and Desonia specialize in the production of the goods in which each has a
million pounds of coffee and million pounds of
comparative advantage. After specialization, the two countries can produce a total of
lemons.
Suppose that Freedonia and Desonia agree to trade. Each country focuses its resources on producing only the good in which it has a comparative
advantage. The countries decide to exchange 12 million pounds of lemons for 12 million pounds of coffee. This ratio of goods is known as the price of
trade between Freedonia and Desonia.
The following graph shows the same PPF for Freedonia as before, as well as its initial consumption at point A. Place a black point (plus symbol) on the

Homework (Ch 03)
The following graph shows the same PPF for Freedonia as before, as well as its initial consumption
graph to indicate Freedonia's consumption after trade.
Note: Dashed drop lines will automatically extend to both axes.
COFFEE (Millions of pounds)
32
28
24
16
0
32
4
28
24
True
Freedonia
8
12
16
20
LEMONS (Millions of pounds)
4
False
The following graph shows the same PPF for Desonia as before, as well as its initial consumption at point A.
As you did for Freedonia, place a black point (plus symbol) on the following graph to indicate Desonia's consumption after trade.
Desonia
28
12
16
LEMONS (Millions of pounds)
28
32
+
32
Consumption After Trade
t point A. Place a black point (plus symbol) on the
?
+
Consumption After Trade
True or False: Without engaging in international trade, Freedonia and Desonia would not have been able to consume at the after-trade consumption
bundles. (Hint: Base this question on the answers you previously entered on this page.)

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