K Tory and Patty produce skis and snowboards. The tables show their production possibilities. Each week, Tony produces 4 snowboards and 8 skis and Patty produces 15 snowboards and 30 skis. Tony and Patty decide to specialize and trade. If Tony and Patty specialize and trade, what are the gains from trade? specializes in snowboards and produces OA Tony, 20 snowboards OB Tony, 4 snowboards OC. Patty; 15 snowboards OD. Patty: 30 snowboards OE Tony; 60 snowboards specializes in skis and produces CETTE OA. Patty; 60 skis OB. Patty, 30 skis OC. Tony: 8 skis OD. Tony, 10 skis OE. Patty: 20 skis By specializing and trading, total output Tony's Production Possibilities Snowboards (per week) Patty's Production Possibilities 20 16 12 B 4 0 Snowboards (per week) 30 15 0 and and and and and and and and and Skis (per week) 0 2 4 6 8 10 Skis (per week) 0 30 60
K Tory and Patty produce skis and snowboards. The tables show their production possibilities. Each week, Tony produces 4 snowboards and 8 skis and Patty produces 15 snowboards and 30 skis. Tony and Patty decide to specialize and trade. If Tony and Patty specialize and trade, what are the gains from trade? specializes in snowboards and produces OA Tony, 20 snowboards OB Tony, 4 snowboards OC. Patty; 15 snowboards OD. Patty: 30 snowboards OE Tony; 60 snowboards specializes in skis and produces CETTE OA. Patty; 60 skis OB. Patty, 30 skis OC. Tony: 8 skis OD. Tony, 10 skis OE. Patty: 20 skis By specializing and trading, total output Tony's Production Possibilities Snowboards (per week) Patty's Production Possibilities 20 16 12 B 4 0 Snowboards (per week) 30 15 0 and and and and and and and and and Skis (per week) 0 2 4 6 8 10 Skis (per week) 0 30 60
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:K
Tory and Patty produce skis and snowboards. The tables show their production possibilities.
Each week, Tony produces 4 snowboards and 8 skis and Patty produces 15 snowboards and 30
skis. Tony and Patty decide to specialize and trade.
If Tony and Patty specialize and trade, what are the gains from trade?
specializes in snowboards and produces
OA Tony, 20 snowboards
OB Tony, 4 snowboards
OC. Patty; 15 snowboards
OD. Patty: 30 snowboards
OE Tony; 60 snowboards
specializes in skis and produces
CETTE
OA. Patty; 60 skis
OB. Patty, 30 skis
OC. Tony: 8 skis
OD. Tony, 10 skis
OE. Patty: 20 skis
By specializing and trading, total output
Tony's Production Possibilities
Snowboards
(per week)
Patty's Production Possibilities
20
16
12
B
4
0
Snowboards
(per week)
30
15
0
and
and
and
and
and
and
and
and
and
Skis
(per week)
0
2
4
6
8
10
Skis
(per week)
0
30
60
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