The Table below shows the amount of labor hours needed to produce cars and airplanes by Japan and Korea. Assume that each country has 2400 hours of labor available. If we were to draw the PPF for Japan and Korea putting cars in the horizontal axis, then: Table Labor Hours Needed to Make 1 Car 30 50 Airplane 150 150 Japan Korea O the slope of Japan's PPF would be -5 and the slope of Korea's PPF would be-3 O the slope of Japan's PPF would be -0.2 and the slope of Korea's PPF would be -0.33 D the slope of Japan's PPF would be -0.25 and the slope of Korea's PPF would be -0.33. D the slope of Japan's PPF would be -5 and the slope of Korea's PPF would be -0.33.

The Table below shows the amount of labor hours needed to produce cars and airplanes by Japan and Korea. Assume that each country has 2400 hours of labor available. If we were to draw the PPF for Japan and Korea putting cars in the horizontal axis, then: Table Labor Hours Needed to Make 1 Car 30 50 Airplane 150 150 Japan Korea O the slope of Japan's PPF would be -5 and the slope of Korea's PPF would be-3 O the slope of Japan's PPF would be -0.2 and the slope of Korea's PPF would be -0.33 D the slope of Japan's PPF would be -0.25 and the slope of Korea's PPF would be -0.33. D the slope of Japan's PPF would be -5 and the slope of Korea's PPF would be -0.33.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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