Part 1 Before trade, how many bicycles were being produced collectively between the two countries? 65 Before trade, how many televisions were being produced collectively between the two countries? 210 Part 2 If the two countries decided to trade, how many bicycles would now be produced overall? 100 If the two countries decided to trade, how many televisions would now be produced overall?

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Chapter1: Making Economics Decisions
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The table below gives the output level from 1 unit of economic resource and the opportunity cost of production of each good for Icesage
and Westford.
3rd attempt
Part 1
Icesage
Westford
Output level
Bicycles
75
100
Televisions
225
150
Icesage is currently producing 45 bicycles and 90 televisions, whereas Westford is currently producing 20 bicycles and 120 televisions.
Part 2
Opportunity cost
Bicycles
3
0.67
Before trade, how many bicycles were being produced collectively between the two countries? 65
Before trade, how many televisions were being produced collectively between the two countries?
Televisions
0.33
1.50
If the two countries decided to trade, how many bicycles would now be produced overall? 100
If the two countries decided to trade, how many televisions would now be produced overall?
210
Transcribed Image Text:The table below gives the output level from 1 unit of economic resource and the opportunity cost of production of each good for Icesage and Westford. 3rd attempt Part 1 Icesage Westford Output level Bicycles 75 100 Televisions 225 150 Icesage is currently producing 45 bicycles and 90 televisions, whereas Westford is currently producing 20 bicycles and 120 televisions. Part 2 Opportunity cost Bicycles 3 0.67 Before trade, how many bicycles were being produced collectively between the two countries? 65 Before trade, how many televisions were being produced collectively between the two countries? Televisions 0.33 1.50 If the two countries decided to trade, how many bicycles would now be produced overall? 100 If the two countries decided to trade, how many televisions would now be produced overall? 210
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