Please show how to solve for question 1, hours (amount of Li) in each country to produce 1 unit of each good. There are 2 countries, D and F. There are 2 products X and Y. Each country has only a single input labor hours, Li j, where i is D forDomestic or F for Foreign and j is either X for Good X use of the labor or Y for Good Y use of labor.In country D:In country F:Xp = an*LD, x- bo*LD, YLD = LD, x + LD, YXF = ag*LF, XYF = be*LF, YLF = LF, X + LF, YYD =At the moment: ap = 0.25, bp = 0.5, LD = 32, aE = 0.8, br = 0.4, LF = 40. Each country is operating in autarky and has determined todivide its labor force equal between the production of X and Y. In Autarky find complete the following tables:1.Find hours (amount of L;) in each country to produce 1 unit of each good.Hours to 1 unitYF2. In D, what is the cost of 1 unit of X?X=Y3.In D, what is the cost ofl unit of Y?Y =4.In F, what is the cost of 1 unit of X?X =Y5. In F, what is the cost of 1 unit of Y?Y =

There are 2 countries, D and F. There are 2 products X and Y. Each country has only a single input labor hours, L;, j, where i is D for Domestic or F for Foreign and j is either X for Good X use of the labor or Y for Good Y use of labor. In country D: In country F: Xp = ap*LD, x Yp = bp*LD, Y XF = ar*LF, X YF = be*LF, Y LF = LF, x + LF, Y LD = LD, x + LD, Y At the moment: ap = 0.25, bp = 0.5, LD = 32, ar= 0.8, bE = 0.4, LF = 40. Each country is operating in autarky and has determined to divide its labor force equal between the production of X and Y. In Autarky find complete the following tables: 1. Find hours (amount of L;) in each country to produce 1 unit of each good. Hours to 1 unit X Y F

There are 2 countries, D and F. There are 2 products X and Y. Each country has only a single input labor hours, L;, j, where i is D for Domestic or F for Foreign and j is either X for Good X use of the labor or Y for Good Y use of labor. In country D: In country F: Xp = apLD, x Yp = bpLD, Y XF = arLF, X YF = beLF, Y LF = LF, x + LF, Y LD = LD, x + LD, Y At the moment: ap = 0.25, bp = 0.5, LD = 32, ar= 0.8, bE = 0.4, LF = 40. Each country is operating in autarky and has determined to divide its labor force equal between the production of X and Y. In Autarky find complete the following tables: 1. Find hours (amount of L;) in each country to produce 1 unit of each good. Hours to 1 unit X Y F

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

In France, one hour of a worker’s labor can produce either 5 cloths or 10 wines. In the US, one hour of workers labor can produce either 20 cloths or 20 wines. Can you show math work? What is the opportunity cost in France for 1 cloth? How about 1 wine? What is the opportunity cost in US of 1 cloth? How about 1 wine? Should these two countries trade? Who should make wine and who should make cloth? Why?
Question Match the term to its correct definition. Column A 1. 2. 3. 4. 5. f 6. Asia-Pacific Economic Cooperation (APEC) European Union International Trade Agreements North American Free Trade Agreement (NAFTA) O a O b O c Od Protectionism United Nations (UN) What happens when a nation's currency depreciates? Its products become cheaper to other nations. Its trade decreases. Its trade increases. Its products become more expensive to other nations. Question 3 (1 point) Column B a. A trade agreement between the United States, Mexico, and Canada established in 1994 and renegotiated as the United States-Mexico-Canada agreement. b. A political and diplomatic organization established to promote economic and social cooperation between nations. c. Multinational agreements on trade conditions. d. A political and economic union of European states. e. An economics forum consisting of 21 countries in the Asia-Pacific region. f. The concept of protecting a country's domestic industries from foreign…
If Portugal has a total of 90 man-hours of resources available for production, while England has only 30, what are the resource costs of wine and cloth? a. Wine costs 1/2 man-hours/bottle and cloth costs 1/2 man-hours/yard in England b. Wine costs 1 man-hour/bottle and cloth costs 1 man-hour/yard in England c. Cloth costs 1 man-hours/yard and win costs 1 man-hours/bottle in Portugal d. Wine costs 1/2 yards/bottle and cloth costs 2 bottles/yard in Portugal
If country ABC can produce a unit of good 1 by sacrificing fewer units of good 2 than can country XYZ, it is correct to say that country ABC A. has a comparative advantage in producing good 1. B. has an absolute advantage in producing good 1. C. will not wish to trade good 1 with country XYZ. D. will import good 1.
Apples (pounds) Your Production and Consumption After Trade 15- 10 15 20 Cherries (pounds) Your consumption point before trade is illustrated by point (Enter your response as a letter.) Your Neighbor's Production and Consumption After Trade Apples (pounds) 10 20 30 40 50 60 Cherries (pounds)
Please show solution. Thank you!
Sam can brew 5 gallons of root beer in an hour or he can make 4 pizzas in an hour. Ben can brew 7 gallons of root beer in an hour or he can make 5 pizzas in an hour. Who has an absolute advantage in making pizza? [ Select ] ["Ben", "Sam"] Who has a comparative advantage in making pizza? [ Select ] ["Sam", "Ben"]
Figure 2-10 Honey (gallons) 480 0 Tahiti 400 Milk (gallons) Honey (gallons) 540 O 1.125 gallons of honey 0 O 1.5 gallons of honey O 0.8 gallons of honey O 2/3 of a gallon of honey Bora Bora 360 Figure 2-10 shows the production possibilities frontiers for Tahiti and Bora Bora. Each country produces two goods, milk and honey. Milk (gallons) Refer to Figure 2-10. What is the opportunity cost of producing one gallon of milk in Bora Bora?
Andrew and Beth can each spend 10 hours a day making bread or making shoes. Andrew makes 2 shoes an hour and Beth 3 shoes an hour. Andrew can bake 10 loaves an hour and Beth 9 loaves an hour. Who has the absolute advantage in making shoes? A (ndrew) or B (eth)?
5
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Note: The answer should be typed.