8 The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization andtrade the optimal product mix for China is alternative D and for the United States is alternative S.ProductApparelChemicals(tona)ProductApparelChemicals(tons)Chins ProductionDPossibilitionC20,000 16,000 12,000 4.00005223U.S. Production Possibilities(Click to select)60,000ton(s)c. What are the limits of the terms of trade?B48,00012PLIE4,000 110ENCOVT36,000 240000 12,00024544Mb. What is the total gain in apparel and chemical output that would result from such specialization?ApparelunitsChemicals060units of apparel for 1 ton of chemicals andunits of apparel for 2 tons of chemicals.Suppose that the actual terms of trade are 1,000 units of apparel for 15 tons of chemicals and that 8,000 units of apparel areexchanged for 12 tons of chemicals. What are the gains from specialization and trade for each nation?(Click to select)has a gain ofunits of apparel.has a gain ofton(s) of chemicals

In the question given that production possibilities tables for China and the United States. The…

The following hypothetical production possibilities tables are for Chine and the United States. Assume that before specialization and trade the optimal product mix for China is alternative D and for the United States is alternative S. Product Apparel Chemicals tons) Product Apparel Chemicals tons) Chins Production Possibilitivn C D P 20,000 16,000 12,000,000,000 KORR OCH KLIECHTE RECOR IN U.S. Production Possibilition T 60,000 48,000 36,000 24/0008 REEK OPENIO EX SEA BRICCH 0 12 ton(s) c. What are the limits of the terms of trade? M b. What is the total gain in apparel and chemical output that would result from such specialization? Apparel units Chemicals Junits of apparel for 1 ton of chemicals and Junits of apparel for 2 tons of chemicals Suppose that the actual terms of trade are 1,000 units of apparel for 15 tons of chemicals and that 8,000 units of apparel are exchanged for 12 tons of chemicals. What are the gains from specialization and trade for each nation? (Click to select) has a gain of units of apparel

The following hypothetical production possibilities tables are for Chine and the United States. Assume that before specialization and trade the optimal product mix for China is alternative D and for the United States is alternative S. Product Apparel Chemicals tons) Product Apparel Chemicals tons) Chins Production Possibilitivn C D P 20,000 16,000 12,000,000,000 KORR OCH KLIECHTE RECOR IN U.S. Production Possibilition T 60,000 48,000 36,000 24/0008 REEK OPENIO EX SEA BRICCH 0 12 ton(s) c. What are the limits of the terms of trade? M b. What is the total gain in apparel and chemical output that would result from such specialization? Apparel units Chemicals Junits of apparel for 1 ton of chemicals and Junits of apparel for 2 tons of chemicals Suppose that the actual terms of trade are 1,000 units of apparel for 15 tons of chemicals and that 8,000 units of apparel are exchanged for 12 tons of chemicals. What are the gains from specialization and trade for each nation? (Click to select) has a gain of units of apparel

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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