Section II Diagrams and1. Draw a PPC diagram, show one unattainable and one inefficient productioncombination of a firm that produces volleyball and basketball can choose. [3marks]thto non do W. Dloz prow

The objective of this question is to illustrate the concept of a Production Possibility Curve (PPC)…

Answered: Section II Diagrams and 1. Draw a PPC…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Course dterm 1 2.Q 2 The following table describes the production possibilities of two cities: Red Sweaters per Worker per Hour White Sweaters per Worker per Hour Montreal 3. 3 Toronto 2 1. Without trade, the price of a white sweater (in terms of red sweaters) in Montreal is 1 v of red sweaters, and in Toronto it is 1 v of red sweaters. Montreal ▼ has an absolute advantage in the production of red sweaters, and Montreal ▼ has an absolute advantage in the production of white sweaters. Toronto has a comparative advantage in the production of red sweaters, and Montreal v has a comparative advantage in the production of white sweaters. sweaters. v sweaters, and Montreal will export white If the cities trade with each other, Toronto will export red The price of white sweaters can be expressed in terms of red sweaters. The highest price at which white sweaters can be traded that would make both - red sweaters per white sweater, and the lowest price that makes both cities better off is v red…
I WANT C AND D. is assumed that there exist two goods x and Z.P and PPF represent production PF possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each will specialize in. (c) Please derive the relative supply of X goods in terms of Z. (d** Bonus) If there exist an unlimited numbers of counterparts in the world, what does the relative supply of X goods look like? ( please simply explain the reason)country 2. It is assumed that there exist two goods X and Z. PPFH and PPFF represent production possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. Z PPFH PPFF X (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each…
Imagine you have access to a technology that allows you to instantaneously travel toa McDonald’s in any country in the world. For each of the scenarios below, answerwhether it makes you more or less likely to buy a Big Mac in the United States.5(a) Brazil places tariffs on US products, limiting imports from America.(b) The US becomes a much riskier place to invest because of widespread politicalunrest.(c) Firms in the UK become much more profitable than those in the US.(d) The global economy surges, sparking higher consumption everywhere in the world.(e) Japan’s central bank cuts interest rates in that country.(f) Mexico’s firms do a much better job of marketing their products to the UnitedStates.
(dollars/16) 8=Ps 5-P₁ 4 = P₁₂ 0.1= Pat a b 9 U.S. beef market h Q₁ 113 Q₂ G₂ 120 125 (dollars/16) Q (thousand tons) 10-P₂ 7=P₂ 5-R 2-P k 2 0 P Japan beef market S /min Que Q5 74 76 r (26 86 (thousand tons Refer to the above partial equilibrium model of trade (large country case). Assume the world price is $5 when reaching free-trade equilibrium. When Japan freely trades with U.S., what is their import amount? (Answer format: only a number is needed, please don't type in anything else.)
QUESTION 9 wine 90 80 70 60 50 40 30 20 10 0 0 10 England d) 2 bottles of wine/yard O e) 3 bottles of wine/yard PPF 20 30 40 50 09. What is the relative price (opportunity cost of one yard) of cloth in Portugal? O a) 1/3 bottles of wine/yard O b) 1/2 bottle of wine/yard O c) 4 man-hours/yard 60 cloth wine 90 80 70 60 50 40 30 20 10 0 0 10 Portugal PPF 20 30 40 50 60 cloth
please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
International market Country 2 Country 1 s2 S2 25 25 25 20 20 20 S1 15 15 15 s1 EIP IP IP 10 10 10 5 D2 d2 d1 Q SD1 0- 0 3 69 1215182124 O 0 3 6 9 1215182124Q 0369 1215182124 Q 18. What is the net welfare gain from trade to the economies of both countries together? (hint: the formula for calculating the area of a triangle is 1/2 times the base times the height) 6. 9. 13.5 33.75 P. P.
Antioch Alexan dretta Gurs Guns 30 20 20 40 Butter Butter If Antioch and Alexdretta were to trade, what would be the range of "prices'" for butter that are possible? 3/2 > p> 1/2 2/3 > p > 1/2 2/3 > p> 1/2 2 > p> 3/2
(1) Specialization increases productivity which results in a De creasing revenue increasing b с d. asing marginal retums increasing opportunity increasing costs marginal output.
Figure 1 CASHEWS (Pounds) 400 360 320 + 280 240 Peru's PPF 200 160 120 A O 80 40 15 hour Refer to Figure 3-2. If the production possibilities frontier shown is for 32 hours of production, then how long does it take Peru to make one pound of cashews? hour 1 2 3 hours 7.5 hours 3 4 5 6 7 8 PEANUTS (Pounds) 9 10
Chapter 9 Problem 6: The figure below illustrates the market for cycles in a country. IPrice 38 36 34 Domestic Supply 26 24 22 20 18t 16t 14t 12t World price 10 Domeetic Demand Quantity 600 520 560 440 480 400 280 320 360 240 80 120 160 200 40 Without trade, cons umer surplus amounts to what amount? a. Without trade, producer surplus amounts to what amount? b. Without trade, total surplus amounts to what amount? c. With trade, the price of tricycles in this country is at what price and what amount? d. With trade, consumer surplus is how much? e. With trade, producer surplus is how much? f. With trade, total surplus is how much? g.
1. The following production possibilities schedule shows the quantities of soybeans and oil that can each be produced in Canada and Mexico with one unit of equivalent resources Refer to the table below. Mexico would not gain by producing and exporting oil and importing soybeans unless it received Canada Mexico Soybeans (bushels) 60 24 Oil (barrels) 10 8 O more than 6 bushels of soybeans per barrel of oil O more than 10 barrel of oil O any quantity of soybeans O more than 3 bushels of soybeans per barrel of oil

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Section II Diagrams and 1. Draw a PPC diagram, show one unattainable and one inefficient production combination of a firm that produces volleyball and basketball can choose. [3 marks] thto non do W. Dloz prow