Q2: There are two countries named Lilliput and Brobdingnag. We have the production possibilities tables for apples and bananas for both countries. Use this data to fill in the blanks below. | Brobdingnag Production Possibilities: Production Altermatives ABCDEF 75 60 45 30 15 0 10 15 20 25 Lilliput Production Possibilities: Production Alternatives Production (bs) A BCDEF 16 80 Production(Ibo) Apples Bananas 32 24 Apples Bananas 40 4 8. 12 16 20
Q2: There are two countries named Lilliput and Brobdingnag. We have the production possibilities tables for apples and bananas for both countries. Use this data to fill in the blanks below. | Brobdingnag Production Possibilities: Production Altermatives ABCDEF 75 60 45 30 15 0 10 15 20 25 Lilliput Production Possibilities: Production Alternatives Production (bs) A BCDEF 16 80 Production(Ibo) Apples Bananas 32 24 Apples Bananas 40 4 8. 12 16 20
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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i need Solution of 2b, 3a, and 3b
Transcribed Image Text:Q2: There are two countries named Lilliput and Brobdingnag. We have the
production possibilities tables for apples and bananas for both countries. Use
this data to fill in the blanks below.
|Lilliput Production Possibilities:
Brobdingnag Production Possibilities:
Production Alternatives
Production Altermatives
Production (Ibs)ABCD E
Apples
Bananas
Production(lbs)
Apples
ABCD
75 60 45 30
F
E
40
32
24
16
8.
15
4
8
12 16 20
Bananas
10 15 20 25
la. Which country has absolute advantage in production of the following good?
Please state the name of the country in front of each good. Bananas:
Your answer
1b. Which country has absolute advantage in production of the following good?
Please state the name of the country in front of each good. Apples:
Your answer
2a. In Lilliput, the cost of producing: 1 apple is:
bananas.
Transcribed Image Text:2a. In Lilliput, the cost of producing: 1 apple is:
bananas.
Your answer
2b. In Lilliput, the cost of producing: 1 banana is:
apples.
Your answer
3a. In Brobdingnag the cost of producing: 1 apple is:
bananas.
Your answer
3b. In Brobdingnag the cost of producing: 1 banana is:
apples.
Your answer
4. The cost of producing 1 apple is lower in the
country.
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