In question 24, Derryland will have 29 units of cheese and 3.5 units of bread after trading with Whetoria. Where is this combination of goods in relation to Derryland's PPF? Group of answer choices It is a point on Derryland's PPF. It is outside of Derryland's PPF. It is inside Derryland's PPF
In question 24, Derryland will have 29 units of cheese and 3.5 units of bread after trading with Whetoria. Where is this combination of goods in relation to Derryland's PPF? Group of answer choices It is a point on Derryland's PPF. It is outside of Derryland's PPF. It is inside Derryland's PPF
In question 24, Derryland will have 29 units of cheese and 3.5 units of bread after trading with Whetoria. Where is this combination of goods in relation to Derryland's PPF? Group of answer choices It is a point on Derryland's PPF. It is outside of Derryland's PPF. It is inside Derryland's PPF
Now that the countries have opened trade, would each country agree to a trade of 11 units of cheese (from Derryland to Whetonia) for 3.5 units of bread (from Whetonia to Derryland)?
Group of answer choices
Both countries would agree to this trade.
Derryland would agree, but Whetonia would not.
Whetonia would agree, but Derryland would not.
Neither country would agree to this trade.
Question 25
In question 24, Derryland will have 29 units of cheese and 3.5 units of bread after trading with Whetoria. Where is this combination of goods in relation to Derryland's PPF?
Group of answer choices
It is a point on Derryland's PPF.
It is outside of Derryland's PPF.
It is inside Derryland's PPF
Transcribed Image Text:Assume that Derryland and Whetonia can switch between producing cheese and
producing bread at a constant rate.
Table 1-1
Labor Hours Needed to Make Number of Units Produced in 40
1 Unit of
Hours
Cheese
Bread
Cheese
Bread
Derryland
1
4
40
10
Whetonia
8
20
Definition Definition Curve that represents the various combinations of production possibilities of two commodities when resources or factors of production are given.
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