Figure T (A) 60 doors. (B) 20 doors. 20 windows and 20 doors. 100 90 80 70 60 50 40 30 20 10 (D) 20 windows. DOORS ➤ 00: O Refer to Figure B. The opportunity cost of this economy moving from point B to point C is o : 10 20 30 40 50 60 70 80 90 100 WINDOWS
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- A) 1/2 hour (B) 6 hours 1/16 hour CASHEWS (Pounds) D) 2 hours 400 360 320 280 240 200 160 120 80 40 Brazil's PPF Refer to Figure 3B. If the production possibilities frontier shown is for 16 hours of production, then how long does it take this country to make one pound of peanuts? 1 2 3 4 5 6 7 PEANUTS (Pounds) 8 9 10Hypothetically, the countries of Pakistan and India can produce two goods: bicycles and buses. (a) Calculate the opportunity costs of all (b) Evaluate properly that which country has comparative advantage in which good. Evaluation for both countries is must. Countries/goods Buses Bicycles Pakistan 20 10 India 30 45A worker in country A can produce either 5 computers or 45 tons of rice, while a worker in country B canproduce either 7 computers or 42 tons of rice. a. Graph the production possibilities curve for each country. On which point of the curve would eachcountry produce if the workers spent half of their time producing each good? b. Which country has absolute advantage? Which country has comparative advantage? In theproduction of rise Country A absolute advantage c. If there was trade, which country would specialize in the production of rice? d. At what price of computers would the countries agree to trade?
- c. 36 pounds d. 48 pounds. IM IN+ 100 IN IM IM 140 130 130 110 100 w Chile's Production Possibilities Frontier NO PO H 12 60 30 ↑seps The #f Figure 3-19 open) d)) Refer to Figure 3-19. Colombia would incur an opportunity cost of 24 pounds of coffee if it increased its production of soybeans by & 12 pounds. b. 18 pounds +++ 244 10 12 14 16 18 20 On preds 9 T 6 3 * 3 2 Colombia's Production Possibilities Frontier ta * Refer to Figure 6-23. Which of the following is correct? a. The entire burden of the tax falls on sellers, and none of the burden of the tax falls on buyers. b. One-third of the burden of the tax falls on buyers, and two-thirds of the burden of the tax falls on sellers. c. One-half of the burden of the tax falls on buyers, and one-half of the burden of the tax falls on sellers. d. Two-thirds of the burden of the tax falls on buyers, and one-third of the burden of the tax falls on sellers. W 16+ 14+ 12 10 Oprund) 2 4 6 8 10 12 14 16 18 20 The following diagram shows the…wine 90 80 70 60 50. D012 mani 40 30 20 10 PPF Portugal (c) 1 bome of (0)2 bottles of sine (0)3 bottles of wine CPF of t 0 10 20 30 40 50 60 cloth 11. What is the elave price opportunity cost of col in England, betere trade beges? A) 1/2 yard of cloth wine 90 80 70 60 50 40 30 20 10 England PPF CPF 0 10 20 30 40 50 60 clothCell Phones-daily production 9 8 65 43N HO 0 0 Production Possibility Frontier - Country Z A 0.8 5 F B 10,6 10,4 G C 15,7 15, 4 10 15 Clothing - Daily production D 18, 2 20 E 20,0 25 3. Answer the following questions about the Production Possibility Frontier for the country Z producing 2 groups of goods, cell phones and clothing. (a) What is gained when country Z moves from B to C? (b) What is given up when country Z moves from B to C? (c) What is the opportunity cost of producing the first two cell phones? (d) What is the opportunity cost of producing the last two cell phones? (e) What happens to the opportunity cost of cell phones as country Z produces more of them? 4. Answer the following questions about the Production Possibility Frontier for the country Z producing 2 groups of goods, cell phones and clothing. (a) Suppose country Z is producing at point F. How many more cell phones could it produce to reach efficiency? (b) Suppose country Z is producing at point F. How many more…
- Suppose a country operates on its production possibility frontier when it produces 1000 books and 1000 tables. The combination of ________ reflects ________. Question content area bottom Part 1 A. 1000 books and 1500 tables; a free lunch B. 1000 books and 500 tables; an efficient point C. 1000 books and 1000 tables; a free lunch D. 500 books and 1000 tables; an inefficient but attainable pointQuestion 10 This information applies to questions 10-13: Table 1 Output per Worker per hour Country Wheat Corn Paraguay 12 3 Bolivia 4 Based on Table 1, the opportunity cost of wheat in Paraguay is 4 units of corn. one-half unit of corn two units of corn O one-fourth unit of corn.Given the following diagram of a production possibilities frontier for a country. Assume that this country produces only two types of goods, capital goods (K) and consumer goods (C). (Graph is not drawn to scale.) CAPITAL GOODS(K) LACO,250) B(109 200) C C200, ISo) D(300, l00) E(GO0,0) CONSUMER 6000S (C) a. What is the opportunity cost of producing 25 more units of capital goods if this economy is currently producing at point B?
- Country 1 Country 2 Good A Good B Good A Good B 200 160 0 20 20 75 75 0 60 60 15 120 40 45 30 80 80 60 30 40 40 80 15 0 100 445 60 60 75 Refer to Exhibit 34-4. The opportunity cost of one unit of good A is country 2. for country 1 and for 20B; 15B 2B; 1B 40B; 15B 1/2B; 1B 1/20B; 1/15BScotland also produces two commodities - potatoes and sausages. Table 2 shows Scotland's Production Possibilities Schedule for the two commodities. Table 2: Scotland's Production Possibilities Schedule Scotland - Production Possibilities Schedule Potatoes (pounds per week) Sausage (pounds per week) 250 200 The opportunity cost for Scotland to produce one pound of sausage is: A) 4/5 pounds of potatoes. B 1 1/4 pounds of potatoes 300 pounds of potatoes. D 200 pounds of potatoes E 250 pounds of potatoes.Suppose that US and France produce cars and wine at different speeds wine cars 10 minutes/ 1 bottle 60 minutes/ 1 bottle France 2 days/ car US 3 days/ car (a) draw PPF for France and for US (b) calculate opportunity costs for both wine and cloths for both countries (c) which country has absolute advantage and in which product? (d) which country has comparative advantage and in which product? (e) if they decide to trade who will export wine and who will export cars? (f) at what price?