The US and France each have 100 hours of labor to allocate between producing cheese and bread. With 1 labor hour, the US can produce either 100 loaves of bread, or 1 wheel of cheese. With 1 labor hour, France can produce either 400 loaves of bread, or 2 wheels of cheese. Suppose the countries jointly decide to produce a combined amount of 45000 loáves of bread. What is the maximum amount of cheese they can jointly produce? O wheels 50 wheels 100 wheels 25 wheels

The US and France each have 100 hours of labor to allocate between producing cheese and bread. With 1 labor hour, the US can produce either 100 loaves of bread, or 1 wheel of cheese. With 1 labor hour, France can produce either 400 loaves of bread, or 2 wheels of cheese. Suppose the countries jointly decide to produce a combined amount of 45000 loáves of bread. What is the maximum amount of cheese they can jointly produce? O wheels 50 wheels 100 wheels 25 wheels

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q16

The US and France each have 100 hours of labor to allocate between producing cheese and bread. With 1 labor hour, the US can produce either 100 loaves of bread, or 1 wheel
of cheese. With 1 labor hour, France can produce either 400 loaves of bread, or 2 wheels of cheese. Suppose the countries jointly decide to produce a combined amount of
45000 loaves of bread. What is the maximum amount of cheese they can jointly produce?
O wheels
50 wheels
100 wheels
25 wheels

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