Suppose that in the country of England, two goods can be produced on available agricultural land: wine and wool. Suppose that the opportunity costs of production are constant, so that the PPF is a straight line. Further, when all resources are devoted to wine production, England can produce 200 (thousand) barrels. When all resources are devoted to wool production, England can produce 400 (thousand) bushels of wool. What are the opportunity costs in England of producing a bushel of wool?

Q: n Germany it takes three workers to make one television and four workers to make one video camera.…

A: TV Video game Germany 3 4  Poland 6 12

Q: Consumption After Trade PPF 12 18 24 30 36 42 48 POTAT OES (Millione of pounde)

A: Global trade is the trading of labor and products between two nations. Exchange offers shoppers and…

Q: Suppose that there are two countries (A and B) and two goods (a labor-intensive good X, textile, and…

A: There are two countries (A and B) and two goods A labor-intensive good X, textile, and a…

Q: An American worker can produce either 5 cars or 8 tons of grain a year. A Japanese worker can…

A: United States: Production of 5 cars requires 1 workers in one year Implies, 5 cars = 1 worker 1 car…

Q: The table shows the units of output a worker can produce per hour in Germany and Korea for two…

A: A country has a comparative advantage if it can produce an item or service at a lower/less…

Q: Suppose that the United States limits the amount of steel that can be imported from other countries.…

A: An import quota refers to the limit of the number of goods that can be imported from nations abroad.…

Q: In one hour, Sue can produce 90 caps or 6 jackets, and Tessa can produce 20 caps or 4 jackets. Thus,…

A: In one hour, Sue can produce 90 caps or 6 jackets Sue's opportunity cost of producing caps in terms…

Q: In 2017, Ecuador's biggest export was crude (unprocessed) petroleum, 63% of which it exported to the…

A: A country is said to have a comparative advantage when a lower opportunity cost a country poses to…

Q: opportunity costs in Portugal of producing a bushel of wool

A: Opportunity cost is the cost of next best alternative use. It is the cost which a person or business…

Q: Suppose that there are 10 million workers in Japan and that each of these workers can produce either…

A: Given that there are 10 million workers in Japan and that each of these workers can produce either 2…

Q: Consider a simple exchange economy with two people: Bob and Jake. Bob and Jake both have 10 hours of…

A: Absolute Advantage is defined as the ability of a country, individual or a firm to produce goods…

Q: Suppose Country A can create 200 tons of capital-intensive goods or 200 tons of labor-intensive…

A: Country A can create 200 tons of capital-intensive goods or 200 tons of labor-intensive goods in one…

Q: In 2018, sizeable lithium deposits were discovered in Germany. Suppose that prior to the discovery…

A: The discovery of new lithium deposits in Germany or any rise in technology / resources will shift…

Q: Consider two neighboring island countries called Felicidad and Bellissima. They each have 4 million…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: Two countries, Lambdastan and Kappastan, have identical PPFs. Their production possibilities…

A: The production possibility frontier (PPF) depicts the combinations of two goods that can be produced…

Q: How can a person who is “better” or more efficient (having an absolute advantage in the production…

A: Absolute advantage refers to a situation in which one individual, business, or country can produce a…

Q: a)Identify an example of absolute advantage relative to the United States from your data tables. Be…

A: (a) The U.S take a shorter time to produce the products like corn, citrus, apparel, and computer…

Q: Who are the winners and losers of the free trade between two countries? Can free trade between the…

A: Comparative AdvantageComparative advantage refers to the principle that suggests countries should…

Q: A market that is operating efficiently maximizes producer surplus. maximizes total surplus. O…

A: Hey, thank you for the question, since there is multiple question posted, according to our policy we…

Q: Consider the PPF of a country with movies on the horizontal axis and computers on the vertical axis.…

A: Production Possibility Frontier refers to the curve that shows different possible combinations of…

Q: what accounts for the shape of the PPC? In other words, what is it about the relationship between…

A: The production possibility frontier (PPF) is a curve on a graph that delineates the potential…

Q: Show on the PPF how both Germany and France gain from trade. B) How many units of apples and…

A:

Q: Maldonia Desonia 48 48 42 42 36 36 PPF 30 30 24 24 18 PPF 18 12 12 --- -- --- -- 6 6 12 18 24 30 36…

A: Without trade, a country consumption and production point remains the same but with trade,…

Q: The countries of Aptonville and Boonton each produce two goods: Ovens and Dishwashers. The table…

A: Comparative Advantage: A country have comparative advantage in producing a good implies that the…

Q: We are supposed to create a PPF with manufactured goods on the y axis and agricultural goods on the…

A: The production possibility frontier of an economy is a model that illustrates the total output that…

Q: Venezuela's Production Possibilties Boundary Units of Beer PPB Units of Silk Trade Line, Trade Line

A: The production potential curve can be used to estimate and demonstrate a country's economy and what…

Q: Freedonia Lamponia 16 16 14 14 12 12 PPF 10 10 8 8 PPF 4 2 2 + 4 8 10 12 14 16 2 4 8 10 12 14 16…

A: Comparative Advantage of a nation in producing certain goods is said to be the relative ability of…

Q: Raphael and Susan are farmers. Each one owns a 20-acre plot of land. The following table shows the…

A: Comparative advantage refers to the ability of the country or an individual to produce the good at a…

Q: When a country has a comparative advantage in the production of a good, it means that it can produce…

A: To check which country has the comparative advantage in grain and tea, we have to calculate the…

Q: The following graph shows the same PPF for Denali as before, as well as its initial consumption at…

A: Opportunity cost is the cost of producing one good in terms of other. Opportunity cost shows the…

Q: Give a specific example of what would cause the PPF to shift outward.     Give a specific example…

A: Production possibility frontier is also known as production possibility curve or production…

Q: Andrew and Beth are farmers. Each one owns a 12-acre plot of land. The following table shows the…

A: PPC stands for Production Possibility Curve which shows the possibility of the production of two…

Q: Derive the production possibilities frontier (PPF) for Home and Foreign and plot it in a graph with…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…

Q: Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40…

A: Trade tends to raise the total international output by specialization.

Q: Draw a new curve, on the same graph,reflecting what the PPC might look like if new production…

A: PPF refers to the curve on a graph that shows the possible units that can be produced of 2 products…

Q: The PPC above shows production possibilities for a country that can produce a maximum of 50 chickens…

A: The given graph depicts the production possibility curve for a country that produces pigs and…

Q: If a PPF is "bowed outward" from the origin, then which of the following can be true? (check all…

A: The production possibility frontier(PPF):PPF: Graphical representation of the combination of two…