Need help with these questions Person 1 can allocate her 8-hour day between the production of two goods: A and B. Each hour devoted toGood B yields 2 units whereas each hour devoted to Good A produces 4 units.(a) State whether 9 units of Good B and 12 units of Good A are attainable, unattainable, efficient or inefficient.[State all that applies.]Select one or more:M attainableOunattainableO efficientinefficient(b) Person 2, can produce 3-units of Good B or 4 units of Good A per hour(1) Who has the absolute advantage in theNeither they both produce same quantityproduction of Good B?(i1) Who has the absolute advantage in theproduction of Good A?Neither they both produce same quantity

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Description: Need help with these questions Person 1 can allocate her 8-hour day between the production of two goods: A and B. Each hour devoted toGood B yields 2 units whereas each hour devoted to Good A produces 4 units.(a) State whether 9 units of Good B and 1

Here, the production ability or capability of person 1 is given as, he can allocate his 8 hours in…

Business

Economics

Person 1 can allocate her 8-hour day between the production of two goods: A and B. Each hour devoted to Good B yields 2 units whereas each hour devoted to Good A produces 4 units. (a) State whether 9 units of Good B and 12 units of Good A are attainable, unattainable, efficient or inefficient. [State all that applies.] Select one or more: V attainable Ounattainable Oefficient V inefficient (b) Person 2, can produce 3·units of Good B or 4 units of Good A per hour (1) Who has the absolute advantage in the production of Good B? Neither they both produce same quantity (ii) Who has the absolute advantage in the Neither they both produce same quantity production of Good A?

Person 1 can allocate her 8-hour day between the production of two goods: A and B. Each hour devoted to Good B yields 2 units whereas each hour devoted to Good A produces 4 units. (a) State whether 9 units of Good B and 12 units of Good A are attainable, unattainable, efficient or inefficient. [State all that applies.] Select one or more: V attainable Ounattainable Oefficient V inefficient (b) Person 2, can produce 3·units of Good B or 4 units of Good A per hour (1) Who has the absolute advantage in the production of Good B? Neither they both produce same quantity (ii) Who has the absolute advantage in the Neither they both produce same quantity production of Good A?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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