If Tom and Abby specialize and then trade balls and rackets at 15 balls per 1 racket, A. Tom gains 2 rackets while Abby gains 40 balls an hour B. Tom gains 10 balls while Abby gains 1 racket and 15 balls an hour C. Tom gains 1 racket and 15 balls while Abby gains 10 balls an hour D. Tom gains 10 balls and Abby gains 10 balls an hour O E. together they gain 80 balls and 4 rackets an hour
If Tom and Abby specialize and then trade balls and rackets at 15 balls per 1 racket, A. Tom gains 2 rackets while Abby gains 40 balls an hour B. Tom gains 10 balls while Abby gains 1 racket and 15 balls an hour C. Tom gains 1 racket and 15 balls while Abby gains 10 balls an hour D. Tom gains 10 balls and Abby gains 10 balls an hour O E. together they gain 80 balls and 4 rackets an hour
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Tom and Abby produce rackets and balls.
The graphs show their production
possibilities.
Tom uses all his resources and produces
2 rackets and 20 balls an hour. Abby uses
all her resources and produces 2 rackets
and 40 balls an hour.
40-
30-
20-
10-
0+
0
80-
60-
40-
20-
Balls (per hour)
0+
Tom's PPF
1 2 3 4
Rackets (per hour)
Balls (per hour)
Abby's PPF
3 4 5
1
2
Rackets (per hour)
5
If Tom and Abby specialize and then trade balls and rackets at 15 balls per 1 racket,
A. Tom gains 2 rackets while Abby gains 40 balls an hour
B. Tom gains 10 balls while Abby gains 1 racket and 15 balls an hour
C. Tom gains 1 racket and 15 balls while Abby gains 10 balls an hour
D. Tom gains 10 balls and Abby gains 10 balls an hour
O E. together they gain 80 balls and 4 rackets an hour
o
N](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7183276-b1b3-4cd2-858e-49415eec5c6e%2F0c3f5bfa-1f81-41f3-bfae-da0f5310d6af%2F43o5vgb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tom and Abby produce rackets and balls.
The graphs show their production
possibilities.
Tom uses all his resources and produces
2 rackets and 20 balls an hour. Abby uses
all her resources and produces 2 rackets
and 40 balls an hour.
40-
30-
20-
10-
0+
0
80-
60-
40-
20-
Balls (per hour)
0+
Tom's PPF
1 2 3 4
Rackets (per hour)
Balls (per hour)
Abby's PPF
3 4 5
1
2
Rackets (per hour)
5
If Tom and Abby specialize and then trade balls and rackets at 15 balls per 1 racket,
A. Tom gains 2 rackets while Abby gains 40 balls an hour
B. Tom gains 10 balls while Abby gains 1 racket and 15 balls an hour
C. Tom gains 1 racket and 15 balls while Abby gains 10 balls an hour
D. Tom gains 10 balls and Abby gains 10 balls an hour
O E. together they gain 80 balls and 4 rackets an hour
o
N
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education