Use the following table to answer the question below. Jake's Production Possibilities Schedule. Pounds of Green Beans Pounds of Corn 160 0 10 120 20 30 40 80 40 0 Jane's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn e 80 60 40 20 0 20 40 60 80 Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of com, if the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake sells Jane 72 pounds of com, then the gains from trade for Jake are pounds of green beans and i pounds of corn with trade and specialization.

ENGR.ECONOMIC ANALYSIS
14th Edition
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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Use the following table to answer the question below.
Jake's Production Possibilities Schedule
Pounds of Green Beans
Pounds of Corn
160
120
80
40
0.
10.
20
30
40
0
Multiple Choice
Jane's Production Possibilities Schedule
Pounds of Green Beans
Pounds of Corn
80
60
40
20
0
0
20
40
60
80
Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40
pounds of com, If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake seils Jane 72 pounds of com, then the gains
from trade for Jake are
pounds of corn with trade and specialization.
pounds of green beans and
Transcribed Image Text:Use the following table to answer the question below. Jake's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 160 120 80 40 0. 10. 20 30 40 0 Multiple Choice Jane's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 80 60 40 20 0 0 20 40 60 80 Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of com, If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake seils Jane 72 pounds of com, then the gains from trade for Jake are pounds of corn with trade and specialization. pounds of green beans and
16, 32
32, 16
8,4
4,8
22
Transcribed Image Text:16, 32 32, 16 8,4 4,8 22
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