Tony and Patty produce skis and snowboards. The tables show their production possibilities. I attached the Tables! please see the attachments for tables. d. Draw Tony’s and Patty’s PPF (on separate graphs). e. With specialization who will produce Skiis? Snowboards? f. If they trade 10 snowboards for 10 skiis what are the gains from trade?
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5. Tony and Patty produce skis and snowboards. The tables show their production possibilities.
I attached the Tables! please see the attachments for tables.
d. Draw Tony’s and Patty’s
e. With specialization who will produce Skiis? Snowboards?
f. If they trade 10 snowboards for 10 skiis what are the
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- a) Country Utopia produces 40 widgets and 20 gadgets. Draw the PPF and explain. (1) b) What change can shift the PPF outward or to the right for Country Utopia? Please draw the shift and explain. (1) 2. "Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of ALL goods." Please explain if the statement is true or false. Explain. (1) 3. Draw the following curve when, x = 1, x = 2, x = 3, x = 4, x = 5 (2.5) a) y = 2 + 5x b) Calculate the slope. Is the slope positive or negative? 4. Draw the following curve when, x = 1, x = 2, x = 3, x=4, x = 5 (2.5) a) y = 16 2x b) Calculate the slope. Is the slope positive or negative? can you draw all the slope and curves?Suppose there are two bakers in town: Sarah and Amy. Sarah can bake 4 loaves of bread or 8 pies in one day. Amy can bake 6 loaves of bread or 2 pies in one day. Please do the following: (a) Calculate the opportunity cost for both Sarah and Amy for baking pies and bread (b) Draw both Sarah and Amy's PPF curve (c) Who has an absolute advantage in baking bread? In baking pies? (d) Who has a comparative advantage in baking bread? In baking pies? (e) Determine a specific trade (i.e. give me numbers) that would make both Sarah and Amy better off.Elif can produce 6 pies or 30cakes in 1 hour. Ahmet can produce 10 pies or 20 cakes in 1 hour. On the PPF lines, show what Elif produces and what Ahmet produces when they specialize. When they specialize and trade, what are the total gains from trade? If Elif and Ahmet share the total gains equally, which quantities of pies and cakes do they trade?
- Rafael's PPF Naomi's PPF 30 30 25 25 20 20 A 15 15 10 10 A 5 10 15 20 25 30 10 15 20 25 Rackets Rackets Refer to the diagrams above. Suppose that before trading, Rafael and Naomi had been producing at point A on their respective PPF. Then suppose they choose to specialize and trade. After specializing they trade 8 Rackets for 8 Balls. After this trade, Rafael will consume and Select one: а. 20 Rackets; 8 Balls b. 8 Rackets; 8 Balls C. 8 Rackets; 12 Balls d. 12 Rackets; 8 Balls Balls Balls 30As the manager at a local florist, you supervise two employees, Anita and Jerome. There are two tasks that need to be completed: floral arrangements and flower delivery. It takes Anita 30 minutes to finish one floral arrangement and it takes her 40 minutes to make one delivery. It takes Jerome 10 minutes to finish one floral arrangement and it takes him 30 minutes to make one delivery. a. Who has a comparative advantage in floral arrangements? What about deliveries? b. Suppose, initially, Jerome and Anita each spent 4 hours each day doing floral arrangements and 2 hours each day doing deliveries. If you changed their tasks so that each individual did nothing but the task for which they had a comparative advantage, how many more floral arrangements would your store make, and how many more deliveries?5. Tony and Patty produce skis and snowboards. The tables show their production possibilities Tony's Production Possibilities Patty's Production Possibilities Snowboards Skis Snowboards Skis (units per week) (units per week) (units per week) (units per week) 25 and 20 and 20 and 10 10 and 15 and 20 and 10 10 and 30 40 5. And 0. And 50 Tony produces 5 snowboards and 40 skis a week; Patty produces 10 snowboards and 5 skis a week. a. Who has an absolute advantage in producing skiis? Snowboards?
- 30 Rafael's PPF Naomi's PPF 30 30 25 25 E of 20 20 A 15 15 10 10 A 5 5 10 15 20 25 30 0 5 10 15 20 25 30 Rackets Rackets Refer to the diagrams above. Suppose that before trading, Rafael and Naomi had been producing at point A on their respective PPF. What is Naomi's opportunity cost of producing 1 Racket? Select one: a. - 3 Balls b. - 1 Ball С. - 1/3 Вal d. - 15 Balls Balls Balls个 The table shows Frigidia's production possibilities. Fish (pounds per month) 300 200 100 0 Draw the four points defined in the table. Use the four-point line tool to draw the PPF. Label it. and and and and Skis (pairs per month) 0 50 100 150 If Frigidia produces 200 pounds of fish per month, how many pairs of skis must it produce to achieve production efficiency? Frigidia must produce pairs of skis to achieve production efficiency. What is Frigidia's opportunity cost of producing 1 pound of fish and 1 pair of skis? pairs of The opportunity cost of 1 pound of fish is skis 300- 250 200- Fish (pounds per month) 150- 100- 50- 25 50 75 100 125 Skis (pairs per month) 150 17!Debra can make either 12 cakes or 16 cookies in 4 hours. Sam can make either 6 cakes or 12 cookies in 4 hours.c. If both Debra and Sam concentrate on producing only the product in which they havea comparative advantage, how many cakes and how many cookies will they produce?
- a. Can point D be produced? Why?. b. What variable might shift the curve PPC1 to PPC2? What would cause the curves to meet at 40,000 quantities of butter produced? What does point E represent? C. d. Explain the movement from point A to B for the production of these two goods ?Hector and Albert are bakers who can make either cakes or pies. Below is a graph showing their production possibilities curves (PPC) for these items. Cake 6. - Albert's PPC Hector's PPC 2 8. Pie Use the information from the above graph to answer the following questions. For opportunity cost please enter numeric answers (ie. 4 or 1/4 not "Four" or "one fourth"), for the question about comparative advantage just type either "Albert" or "Hector" into the submission box. What is Hector's opportunity cost for one cake? What is Albert's opportunity cost for one pie? Who has comparative advantage in making cake? 4-Suppose Amber and Jade can spend their days making croissants or writing poems. Their output per hour at each activity is the following: Croissants Poems Amber 40 2 Jade 30 1/2 In this situation, can mutually beneficial trade occur? Select one: A. No, because Jade is more productive than Amber at both activities. B. Yes, if Amber specializes in making croissants and trades them to Jade for her poems. C. No, because Amber more productive than Jade at both activities. D. Yes, if Amber specializes in writing poems and trades them to Jade for her croissants.