Once again, consider Babs and Donna, who can each produce cake, beer, or some combination ofthe two using only 40 hours of labor each. Babs can produce a maximum of 50 cakes if sheproduces no beer, and 100 units of beer if she produces no cake. Donna can produce a maximumof 100 cakes with no beer produced; if she makes no cake, she can produce 120 units of beer.has the comparative advantage in cake production;has the comparativeadvantage in beer production.O Donna; DonnaO Donna; BabsO Babs; BabsO Babs; DonnaMacBook Air吕口F3D00F4F5F6IIF7F8$&*4578.EYUFGHJK6

Comparative cost advantage: - it is a principle of international trade given by David Ricardo which…

Answered: Once again, consider Babs and Donna,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q16
Suppose that Patrick Mahomes can pass for 28 touchdowns per season or run for 14 touchdowns per season and Josh Allen can pass for 45 touchdowns per season or run for 15 touchdowns per season. Which of the following statements is true? Patrick Mahomes has an opportunity cost of passing TDs equal to 2 running TDs and a comparative advantage in passing TDs. Patrick Mahomes has an opportunity cost of passing TDs equal to ½ of a running TD and a comparative advantage in running TDs. Patrick Mahomes has an opportunity cost of passing TDs equal to 2 running TDs and a comparative advantage in running TDs. O Patrick Mahomes has an opportunity cost of passing TDs equal to ½ of a running TD and a comparative advantage in passing TDs.
Suppose there exist two imaginary countries, Sequoia and Yosemite. Their labor forces are each capable of supplying four million hours per week that can be used to produce almonds, shorts, or some combination of the two. The following table shows the amount of almonds or shorts that can be produced by one hour of labor. Country Sequoia Yosemite Almonds Shorts (Pounds per hour of labor) (Pairs per hour of labor) 16 4 6 12 Suppose that initially Yosemite uses 1 million hours of labor per week to produce almonds and 3 million hours per week to produce shorts, while Sequoia uses 3 million hours of labor per week to produce almonds and 1 million hours per week to produce shorts. As a result, Sequoia produces 12 million pounds of almonds and 16 million pairs of shorts, and Yosemite produces 6 million pounds of almonds and 36 million pairs of shorts. Assume there are no other countries willing to engage in trade, so, in the absence of trade between these two countries, each country consumes…
Suppose there exist two imaginary countries, Yosemite and Congaree. Their labor forces are each capable of supplying four million hours per day that can be used to produce pistachios, chinos, or some combination of the two. The following table shows the amount of pistachios or chinos that can be produced by one hour of labor. Country Pistachios Chinos (Pounds per hour of labor) (Pairs per hour of labor) Yosemite 6 12 Congaree 4 16 Suppose that initially Yosemite uses 1 million hours of labor per day to produce pistachios and 3 million hours per day to produce chinos, while Congaree uses 3 million hours of labor per day to produce pistachios and 1 million hours per day to produce chinos. As a result, Yosemite produces 6 million pounds of pistachios and 36 million pairs of chinos, and Congaree produces 12 million pounds of pistachios and 16 million pairs of chinos. Assume there are no other countries willing to engage in trade, so, in the absence of trade…
Only after When neither country specializes, the total production of corn
Describe and indicate how each of the following would affect the U.S production possibilities frontier, for example, will the change shift the PPF outward, inward, not shift the PPF, or lead to movement along the PPF toward the X axis or toward the Y axis . a). An increase in the number of illegal immigrants entering the country. b).An increase in the population. c). A war. d) the discovery of a new oil field. e) A decrease in unemployment rate. f) A law that requires individual to enter lines of work for which they are not suited. g) Technology change that favors the production of the goods and services on the X-axis of your graph. h) Technology change that favors the production of the goods and services on the Y-axis of your graph. i) depletion of our natural non renewable resources. j) general improvements in technology.
Question 30 Link and Zelda each have 12 hours a week they can spend making costumes and accessories for their cosplay group. Link has been doing this for years and can make a costume piece in 2 hours and an accessory item in 1 hour. Zelda is still learning and can make a costume piece in 3 hours and an accessory item in 2 hours. The opportunity cost of 1 costume piece for Link in terms of accessory items (i.e. accessory items per costume piece):
Suppose there exist two imaginary countries, Everglades and Yosemite. Their labor forces are each capable of supplying four million hours per week that can be used to produce chinos, pistachios, or some combination of the two. The following table shows the amount of chinos or pistachios that can be produced by one hour of labor. Country Everglades Yosemite Suppose that initially Yosemite uses 1 million hours of labor per week to produce chinos and 3 million hours per week to produce pistachios, while Everglades uses 3 million hours of labor per week to produce chinos and 1 million hours per week to produce pistachios. As a result, Everglades produces 15 million pairs of chinos and 20 million pounds of pistachios, and Yosemite produces 8 million pairs of chinos and 48 million pounds of pistachios. Assume there are no other countries willing to engage in trade, so, in the absence of trade between these two countries, each country consumes the amount of chinos and pistachios it produces.…
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Please shift the PPF to show this change. Assume that Rubberland does not make more rubber band balls than they originally made at point A but still maximize their productive capabilities. Move point A to their new production point. How many more rubber hoses do they now produce per day than before?
Okay, so what is the opportunity cost of one cake if we move from combination A to combination B? (If needed, round to two decimal places.)
Hand written answer is not allowed dear.
Paul, Ringo, and George have a business where they visit people's homes to mow lawns and wash cars. Paul can wash 6 cars or mow 3 lawns in one hour. Ringo can wash 3 cars or mow 3 lawns in one hour. George can wash 3 cars or mow 6 lawns in one hour. They each work 6 hours per day. If two of them wash cars and one mows lawns then at most they can wash cars and mow lawns. Enter whole numbers.

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