Table Assume that England and France can switch between producing motorcycles and producing tanks at a constant rate. Hours Needed to Make 1 Quantity Produced in 2400 Hours Motorcycles Tanks Motorcycles 30 Tanks 16 England France 150 80 50 150 48 16 Refer to Table. England's opportunity cost of one motorcycles is e a. 5 tanks and France's opportunity cost of one motorcycle is 1/3 tank. Ob.5 tanks and France's opportunity cost of one motorcycle is 3 tanks. Oc 1/5 tank and France's opportunity cost of one motorcycle is 1/3 tank. od 1/5 tank and France's opportunity cost of one motorcycle is 3 tanks.

Table Assume that England and France can switch between producing motorcycles and producing tanks at a constant rate. Hours Needed to Make 1 Quantity Produced in 2400 Hours Motorcycles Tanks Motorcycles 30 Tanks 16 England France 150 80 50 150 48 16 Refer to Table. England's opportunity cost of one motorcycles is e a. 5 tanks and France's opportunity cost of one motorcycle is 1/3 tank. Ob.5 tanks and France's opportunity cost of one motorcycle is 3 tanks. Oc 1/5 tank and France's opportunity cost of one motorcycle is 1/3 tank. od 1/5 tank and France's opportunity cost of one motorcycle is 3 tanks.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section: Chapter Questions

Problem 8PA

See similar textbooks

Similar questions

Please help me
1. Continuing to produce diesel-powered cars will mean that Toyota can produce Dlesel-powered cars (per week) fewer hybrids than it could if it were to switch all its production to hybrids. Given the generally agreed upon bright future for hybrids, why would Toyota continue to produce diesel-powered 400 cars? PPFns 2. Assume that the graph below accurately represents Toyota's production possi- bilities frontiers at its Canadian plants PPFes for 2013 and 2015. Also assume that in 2015 it has customer orders for 500 hybrids per week and 400 diesel-pow- ered cars per woek. Explain whether Toyota can fill all of these orders from its 500 800 Canadian plants. Hybrids (per week) Can I have answer for question 2? Thank you!
Need help with a homework problem
go.view.usg.edu/ Question If the production of wheat increases from point B to point A, what is the opportunity cost? Reflect in ePortfolio Tons of Wheat 100 90 75 45 25 A 20 B 75 80 F 90 D 100
llery Two countries namely the United States and the United Kingdom can produce both wheat and whiskey. Their production possibility frontiers are shown below. Based on this one can say that Wheat (millions of bushels) United States 1500 1000 Whiskey (millions of bottles) Wheat (millions of bushels) 100 United Kingdom 500 Whiskey (millions of bottles) nt ire O Both countries would gain if the United States produced both wheat and whiskey, and United Kingdom produced only whiskey and they traded. O Both countries will get the most desired outcome if each produced both wheat and whiskey, and they traded in both wheat and whiskey. O Both countries would gain if United States produced only whiskey and United Kingdom produced both wheat and whiskey and they traded. O Both countries would gain if the United States specialized in producing wheat, and United Kingdom produced only whiskey and they traded. O United States has an absolute advantage in producing both wheat and whiskey, and thus…
. Diego and Darnell are roommates. They spend mostof their time studying (of course), but they leavesome time for their favorite activities: making pizzaand brewing root beer. Diego takes 4 hours to brewa gallon of root beer and 2 hours to make a pizza.Darnell takes 6 hours to brew a gallon of root beerand 4 hours to make a pizza.a. What is each roommate’s opportunity cost ofmaking a pizza? Who has the absolute advantagein making pizza? Who has the comparativeadvantage in making pizza?b. If Diego and Darnell trade foods with each other,who will trade away pizza in exchange for rootbeer?c. The price of pizza can be expressed in terms ofgallons of root beer. What is the highest price atwhich pizza can be traded that would make bothroommates better off? What is the lowest price?Explain.
Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier ↑soydeans TEx pounds) ↑ soydeans 20 (in pounds) 18 18 16 16 14 14 12 12 10 10 6 4- +%> 16 18 20 coffee (in pounds 2 4 8 10 12 14 2 4 6 8 10 12 14 16 18 20 coffee spunod ng) Refer to Figure 3-8. If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of pounds of coffee and pounds of soybeans could Chile and Colombia together not make in a given day? O a. 4 pounds of coffee and 17 pounds of soybeans O b. 8 pounds of coffee and 14 pounds of soybeans O . 16 pounds of coffee and 9 pounds of soybeans O d. 24 pounds of coffee and 3 pounds of soybeans
.Brazil can produce 100 pounds of beef or 10 autos; in contrast the United States can produce 40pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has theabsolute advantage in producing autos? What is the opportunity cost of producing one pound of beef inBrazil? What is the opportunity cost of producing one pound of beef in the United States?
Question 12 The figures below depict the production possibilities frontiers (PPFS) for two people who can allocate the same amount of time between building wooden boats and solving crimes. Refer to these figures to answer the following questions. Gibbs Wooden Boats 3 30 Crimes Solved DiNozzo Wooden Boats
c. 36 pounds d. 48 pounds. IM IN+ 100 IN IM IM 140 130 130 110 100 w Chile's Production Possibilities Frontier NO PO H 12 60 30 ↑seps The #f Figure 3-19 open) d)) Refer to Figure 3-19. Colombia would incur an opportunity cost of 24 pounds of coffee if it increased its production of soybeans by & 12 pounds. b. 18 pounds +++ 244 10 12 14 16 18 20 On preds 9 T 6 3 * 3 2 Colombia's Production Possibilities Frontier ta * Refer to Figure 6-23. Which of the following is correct? a. The entire burden of the tax falls on sellers, and none of the burden of the tax falls on buyers. b. One-third of the burden of the tax falls on buyers, and two-thirds of the burden of the tax falls on sellers. c. One-half of the burden of the tax falls on buyers, and one-half of the burden of the tax falls on sellers. d. Two-thirds of the burden of the tax falls on buyers, and one-third of the burden of the tax falls on sellers. W 16+ 14+ 12 10 Oprund) 2 4 6 8 10 12 14 16 18 20 The following diagram shows the…
Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
What does a production possibilities frontier illustrate?