Refer to Figure 3-23. For Bonovia, what is the opportunity cost of a pound of cheese? O a. 0.8 pounds of ham O b. 1.25 pounds of ham O . 8 pounds of ham O d. 16 pounds of ham
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- What is comparative advantage?EX LO d @ Safari File Edit View History Bookmarks Window Help Lily ✓ My Home Courses Rental Options V Catalog and Study Tools Dashboard College Success Tips Help Career Success Tips Give Feedback « 100 CENGAGE MINDTAP PISTACHIOS (Millions of pounds) 48 42 36 Homework (Ch 03) The following graphs show the production possibilities frontiers (PPFS) for Shenandoah and Denali. Both countries produce peas and pistachios, each initially (i.e., before specialization and trade) producing 18 million pounds of peas and 9 million pounds of pistachios, as indicated by the grey stars marked with the letter A. 30 24 18 PPF 12 6 0 0 C Mind Tap - Cengage Learning 6 S Shenandoah A 12 18 24 30 PEAS (Millions of pounds) 36 42 48 ? JAN 28 PISTACHIOS (Millions of pounds) 48 42 36 30 24 6 C MindTap - Cengage Learning 0 ng.cengage.com PPF 6 Denali A 12 18 24 30 36 PEAS (Millions of pounds) 42 48 Shenandoah has a comparative advantage in the production of while Denali has a comparative advantage in the…Wagons Tricycles James 16 32 Click to select your answer The table above shows the output per week of two people, James and Lucy. They can either devote their time to making wagons or making tricycles. Which of the following statements true? O A. Lucy has a comparative advantage in making both products. O B. Lucy has a comparative advantage in making tricycles and James in making wagons. O C. James has a comparative advantage in making both products. O D. Lucy has a comparative advantage in making wagons and James in making tricycles. Lucy 18 24
- QUESTION 1 Pis Tim Pies Dave 10 The graphs above depict loe Cream loe Cream the amounts of ice cream and pies that Tim and Dave can make in a given weekend. Use this to answer the questions that follow. Suppose that currently Dave is producing 3 units of pies and 2 units of ice cream, while Tim is producing 5 units of pies and 3 units of ice cream. If they instead specialize based upon the principle of comparative advantage, what would be the change in the total number of pies and ice cream produced? O a. +5 pies and +3 ice cream O b. +2 pies and +1 ice cream O c. +2 pies and no change in ice cream O d. +1 pie and +2 ice cream QUESTION 2Typed plz and Asap thanks01 20 wered For each fancy dress Cafilla produces, it gives up the opportunity to make 50 pounds of cheese. Bodoni can produce one fancy dress for every 100 pounds of cheese it produces. If specialization and trade were to occur between these two countries, which of the following would be consistent with the theory of comparative advantage? O a. Bodoni has the comparative advantage in only dresses. O b. Cafilla has the comparative advantage in only cheese. O c. Cafilla has the comparative advantage in only dresses. O d. Bodoni has the comparative advantage in dresses and cheese. O e. Cafilla has the comparative advantage in dresses and cheese. D AssignmentMain.do?takeAssignmentSession Locator assignment-take,0896c4f4-0518-431a-b10a-1cd73a8289c4# Show -9 bike 2 bike jpg.jpg bike 2.jpg T ▬▬ 6:5 6/12/2 ➡+ prt so R % 5 L G B O Y I & 7 x 8 l J C IAA 00 M 9 K fio ► 11 O ENG S D
- In the production possibilities frontier depicted in the figure, which of the following combinations of hats and bananas is unattainable? OA. 4 million pounds of bananas and 4 million hats OB. 1 million pounds of bananas and 3 million hats OC. 2 million pounds of bananas and 5 million hats. OD. 0 pounds of bananas and 6 million hats Hats (millions per year) 65 4 3 2 1 0 1 2 4 5 6 3 Bananas (millions of pounds per year]Person Judith Matthew Opportunity cost of 1 jar of baby food 6 hot pretzels 8 hot pretzels Opportunity cost of 1 hot pretzel 1/6 of a jar of baby food 1/8 of a jar of baby food Based on the table above, which of the following statements is true? Choose one: O A. Matthew has a comparative advantage in producing hot pretzels, while Judith has a comparative advantage in producing jars of baby food. ⒸB. Matthew has a comparative advantage in producing jars of baby food, while Judith has a comparative advantage in producing hot pretzels O C. Neither Judith nor Matthew has an absolute advantage in producing jars of baby food or hot pretzels. O D. Both Judith and Matthew have a comparative advantage in producing jars of baby food or hot pretzels.Eggs LO Ren 5 Bacon (oz.) 10 3 will consume with Specialization and Trade Eggs Bacon Eggs Bacon 75 250 0 400 Stimpy 9 270 30 360 The table above provides the quantity of eggs and bacon that Ren and Stimpy can produce in one hour. Use the table to answer the following questions. Be sure to fill in the blanks with numerics when dealing with numbers (i.e. write 1 instead of one). Assume complete specialization to compute production under specialization and trade. Autarky Suppose the terms of trade are 1 egg:1 oz. of bacon and 80 eggs are traded. Then Ren will consume nets him a gain of 0 A/ specialization and trade, which nets him a gain of A/ specialization and trade. A/ (number) ounces of bacon after (number) ounces of bacon. Stimpy (number) eggs, which A/ (number) eggs and A (number) ounces of bacon after
- The sharp rise in housing prices from 2003 to 2005 was driven by a high level of housing. Select the correct answer below: O supply of O demand for O loans for O none of the above In 20 hours, Japan can produce 70 bushels of corn. In 14 hours, Japan can produce 60 bushels of wheat. What is the opportunity cost of producing 1 bushel of corn in terms of bushels of wheat? Assume Japan experiences constant opportunity costs. Round your answer to two decimals. Hint: Calculate how much of each good can be produced in 1 hour, then solve for the amount of foregone wheat when choosing to produce a bushel of corn. Provide your answer below: bushel(s) of wheat If a national economy runs a trade surplus, the trade sector will involve a(n). of financial capital. Select the correct answer below: inflow outflow O shortage balanceAnswer all parts..... If not I ll downvotePlease answer fast please arjent help please