SECTION# NAME PRINT LAST NAME, FIRST NAME Use the graphs below to answer questions 7 through 10. PAM ALEX Cakes Cakes 10 9 Pies 10 Pies 6. 7. For Alex, the opportunity cost of 1 pie is cost of 1 pie is cake(s); for Pam, the opportunity cake(s). 2/3; 1 b. 2/3; 2 a. 12; 1 d. 1½; 2 Č. 8. For Alex, the opportunity cost of 1 cake is cost of 1 cake is pie(s); for Pam, the opportunity pie(s). 2/3; 1 b. 2/3; 2 a. 12; 1 C. d. 12; 2 Alex has a comparative advantage in 9. and Pam has a comparative advantage in cakes; pies pies; cakes a. cakes; cakes pies; pies C. If Alex and Pam specialize according to comparative advantage, their combined output will be: 10. 9 cakes and 10 pies. 19 cakes and 16 pies. a, 10 cakes and 6 pies. 15 cakes and 20 pies. C. b.
SECTION# NAME PRINT LAST NAME, FIRST NAME Use the graphs below to answer questions 7 through 10. PAM ALEX Cakes Cakes 10 9 Pies 10 Pies 6. 7. For Alex, the opportunity cost of 1 pie is cost of 1 pie is cake(s); for Pam, the opportunity cake(s). 2/3; 1 b. 2/3; 2 a. 12; 1 d. 1½; 2 Č. 8. For Alex, the opportunity cost of 1 cake is cost of 1 cake is pie(s); for Pam, the opportunity pie(s). 2/3; 1 b. 2/3; 2 a. 12; 1 C. d. 12; 2 Alex has a comparative advantage in 9. and Pam has a comparative advantage in cakes; pies pies; cakes a. cakes; cakes pies; pies C. If Alex and Pam specialize according to comparative advantage, their combined output will be: 10. 9 cakes and 10 pies. 19 cakes and 16 pies. a, 10 cakes and 6 pies. 15 cakes and 20 pies. C. b.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:SECTION#
NAME
PRINT LAST NAME, FIRST NAME
Use the graphs below to answer questions 7 through 10.
PAM
ALEX
Cakes
Cakes
10
9
Pies
10
Pies
6.
7.
For Alex, the opportunity cost of 1 pie is
cost of 1 pie is
cake(s); for Pam, the opportunity
cake(s).
2/3; 1
b.
2/3; 2
a.
12; 1
d.
1½; 2
Č.
8.
For Alex, the opportunity cost of 1 cake is
cost of 1 cake is
pie(s); for Pam, the opportunity
pie(s).
2/3; 1
b.
2/3; 2
a.
12; 1
C.
d.
12; 2
Alex has a comparative advantage in
9.
and Pam has a comparative advantage in
cakes; pies
pies; cakes
a.
cakes; cakes
pies; pies
C.
If Alex and Pam specialize according to comparative advantage, their combined output
will be:
10.
9 cakes and 10 pies.
19 cakes and 16 pies.
a,
10 cakes and 6 pies.
15 cakes and 20 pies.
C.
b.
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