**Question 10***This information applies to questions 10-13:***Table 1**| Country | Output per Worker per hour ||-----------|----------------------------|| | Wheat | Corn || Paraguay | 12 | 3 || Bolivia | 4 | 2 |Based on Table 1, the opportunity cost of wheat in Paraguay is:- ○ 4 units of corn.- ○ one-half unit of corn.- ○ two units of corn.- ○ one-fourth unit of corn.

In a market, opportunity cost implies the foregone benefit that an individual could earn if not…

Answered: Question 10 This information applies to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A) 1/2 hour (B) 6 hours 1/16 hour CASHEWS (Pounds) D) 2 hours 400 360 320 280 240 200 160 120 80 40 Brazil's PPF Refer to Figure 3B. If the production possibilities frontier shown is for 16 hours of production, then how long does it take this country to make one pound of peanuts? 1 2 3 4 5 6 7 PEANUTS (Pounds) 8 9 10
QUESTION 23 Maximum Feasible Hourly Production Rates for either Tablets or TVs Using All AvailableResources United States Product Mexico Tablets TVs 6. Refer to the above table. Assuming that opportunity costs are constant, which of the following is a correct statement? O Mexico has a comparative advantage in producing both goods. O The United States has a comparative advantage in TV production. O The United States has a comparative advantage in producing both goods. O Mexico has a comparative advantage in producing TVs.
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Output per Hour Worked United States Mexico Computers (unit) 3 1 Shoes (pairs) 6 3 Based on the above table, which country or countries has an absolute advantage and a comparative advantage in shoes? a) Mexico has a comparative advantage, and the United States has an absolute advantage in shoes. b) Mexico has an absolute and comparative advantage in shoes. c) The United States has a comparative advantage, and Mexico has an absolute advantage in shoes. d) The United States has an absolute and comparative advantage in shoes.
52. Calculate the opportunity cost of one more railcar for Canada prior to trading.
The table above shows the daily production possibilities for China and Malaysia in producing trucks and coffee using the same amount of resources. Based on the data provided, which of the following terms of trade are mutually beneficial for the two countries? A. 1 ton of coffee for 3 trucks B. 1 ton of coffee for 4 trucks C. 1 ton of coffee for 5 trucks D. 1 truck for 1 ton of coffee E. 1 truck for 5 ton of coffee
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Table 2-12 One Canoe One Sailboat Guatemala Honduras 10 hours 15 hours 60 hours 75 hours Table 2-12 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras. Refer to Table 2-12. What is Honduras's opportunity cost of producing one canoe? O 1/5 of a sailboat 1.5 sailboats 5 sailboats 6 sailboats
Question 20 (Table) The table shows coffee and tea units produced for the United States and Japan. If Japan decides to increase production of tea from 20 units to 35 units, the opportunity cost s: United States Coffee 25 20 15 10 6 5 8 Tea 4 10 Japan 58 38 25 Coffee Tea 15 7 0 3 10 20 35 60 O A. 15 units of tea. B. 10 units of tea. C. 10 units of coffee. O D.8 units of coffee.
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Problem 19-03 (algo) The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative D and for the United States is alternative S. China Production Possibilities ok Product A B D E F Apparel 80,000 64,000 int Chemicals (tons) 0 32 48,000 64 32,000 96 16,000 128 160 rences Product Apparel Chemicals (tons) U.S. Production Possibilities R 240,000 0 S T 192,000 144,000 48 96 U 96,0000 144 W 48,000 0 192 240 Instructions: Enter your answers as whole numbers. a. Are comparative-cost conditions such that the two countries should specialize? Yes If so what product should each produce?

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Question 10 This information applies to questions 10-13: Table 1 Output per Worker per hour Country Wheat Corn Paraguay 12 Bolivia 4 Based on Table 1, the opportunity cost of wheat in Paraguay is 4 units of corn. one-half unit of corn O two units of corn one-fourth unit of corn.