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Module 2 Homework Q Saved Help Save & Exit Submit A Slmple Model of Productlon Exerclse 1 Mountain Mack spends his time carving fishing lures and duck decoys. If Mountain Mack spends all of his time carving fishing lures he can carve 40 lures in a week. If he spends all of his time carving duck decoys he can carve 50 decoys in a week. For every 10 duck decoys Mountain Mack carves he must give up 8 fishing lures. points Mountaln Macks Productlon Posslbllltles Schedule Fishing Duck skipped LuresDecoys 40 eBook References 50 Instructlons: Enter your answers as a whole number Fill in the values in the table to complete Mountain Macks production possibilities schedule. Mc Graw Hill Next > Prev 1 of 20Madie 2 Homewark 2 Production Possibiltties Frontier Exercise 1 The table below provides Mourbsire Macks produstion peaslolins schedule, which deacrbea various combinatiors ofhlnglures and ack decoys he can esve emelertly ห week. Mountain Macks Production PosslblHBes Schedule ต. Greph Morton, Meclis production pegel ties fromer using re iformeen In the sbie sbove. Instructionx Use the 1ool provided PPr so plot the producton posaibinestronderpoint by point 5 points totsl. Mountain Macks Production Possiblities Fromler a. which ofthe fołowrg oon bratons off hing luses and duck decopsi unabteinable so Mountain M5ck n one weeks wort, of candng? 040fshing lures and 0 duck decoy 20tahing lures and 1O duck decoys O 15 fiahing lures and 30 duck decoya O10nshing lures and40 duck decoys Which of the fallowing combinstlons ofishlg lures and duck decays ls an clert combinstlon? 10fishing iures snd 40duck decor O16fishing lures and 30 duck decoys 50fshing lures and Oduck decoys O20fahino lures and 10 duck decoveHelp Save & Exit Submit Saved Module 2 Homework 6 Opportunity Cost - Production Exercise 2 In the table below, each production choice represents a point on a production possibilities frontier. Production Possibilities 5 points Spears Plows 18 8 6 4 20 40 60 80 100 eBook References This table shows that the opportunity cost of increasing plow production from 4 plows to 8 plows is O 40 spears O 20 spears. O 30 spears. 0 10 spears. KPrev 3 of 20Next > GrawModule 2 Homework 6 Saved Help Save& Exit Submit 4 Comparatlve Advantage Exerclse1 The table below presents the production possibilities schedules for the cities of Venice and Florence, each of which produces pasta and wine Production Possibilities Schedules for Venice and Florence points Venice Pasta Wine Pasta Wine (pounds) (bottles) (pounds) (bottles) 100 50 50 25 eBook 25 50 10 20 References Instructions: In part b, enter your answer as a whole number. In part d, round your answer to 1 decimal place a. What is Venices opportunity cost of producing one pound of pasta? O 0.4 bottle of wine 0.5 bottle of wine O 2.5 bottles of wine O 2 bottles of wine b. What is Venices opportunity cost of producing one bottle of wine? pounds) of pasta C. What is Florences opportunity cost of producing one pound of pasta? 0.5 bottle of wine 2.5 bottles of wine 0.4 bottle of wine O 2 bottles of wine d. What is Florences opportunity cost of producing one bottle of wine? poundls) of pasta e. Click to slect) has the comparative advantage in producing pasta and Click to has the comparative advantage in K Prev4 of 20 Next>Mountsin Mack and Big Lake Bob spend theirEne canving e.. r Moutain Meck ipits his seek e/enly between cervtng naning lures 5ns duck decoys. wnst蒤the masimum namoeorang OBtaning lares and 10 duck decay 040fahing lres and 50 dack decays O24faing lures and 20 duck decay O20fshing lures an 25 dack decoya cecoys could 100 ก.ning lures 5ns 30 cuc cecoy O20fahing lres and6 duck decaya Combined, haw many ahtg rea and duck decays cud Mauntain Mack andl Eig Lake Bob cve ech ane sple a weak O140fahing ures and 80 duck decoys e. Wiho has the comparevge in caning fsingrs n carving duck decoy eoch produt could thay produee togather? 040tshing lares and 30 duck decoys O100 Rahing lures and 50 duck decays Prev 520 l Next>Module 2 Homework Help Save & Exit Submit 6 Terms of Trade Exercise 1 Geppetto and Lewis both make puzzles and puppets for their toy stores. The table below compares their production possibilities schedules. Production PossIbllltles Schedules points Geppetto Lewis Puzzles Puppets Puzzles Puppet:s 80 60 40 20 12 16 20 48 30 20 18 10 15 20 25 a. Which producer has the comparative advantage in producing puzzles? b. Which producer has the comparative advantage in producing puppets? Click to select) C. If both producers decided to trade with each other to stock their toy stores, which of the following is a range of terms of trade that would benefit both Gepperto and Lewis (1 puppet-xpuzzles) O They would be willing to trade in the range of 1 puzzle per puppet to 6 puzzles per puppet. O They would be willing to trade in the range of 2 puzzles per puppet to 6 puzzles per puppet O They would be willing to trade in the range of 2 puzzles per puppet to 5 puzzles per puppet O They would be willing to trade in the range of 1 puzzle per puppet to 5 puzzles per puppet. < Prev 6 of 20 Next >Module 2 Homework Help Save & Exit Submit Galns from Trade Exercise 1 Both Geppetto and Lewis are toy store owners. They decide that they would like to trade puzzles and puppets in order to better stock their toy store shelves. The table below compares their production possibilities schedules. Production Posslbilltles Schedules points Geppetto Levis Puzzles Puppets Puzzles Puppets 50 40 80 60 40 12 16 20 20 18 15 28 25 Instructlons: Enter your answers as a whole number. a. Geppetto and Lewis agree to trade at a rate of 3 puzzles for each puppet. With those terms of trade. who is most likely to be the supplier of puzzles? Who is most likely to be the supplier of puppets? Puzzles: [Click to select, Puppets: Click to select) b. The two toy store owners agree to specialize and to trade 30 puzzles for 10 puppets. The terms of trade are still 3 puzzies for each puppet. How many puzzles and puppets will each one have after they complete their trade? Geppetto: puzzles and puppets Lewis puzzies andpuppetsMaduie 2 Hamewark 8 Increasing Opportunity Costs Exercise1 reland and Scodiend both produce patstoes snd ssuseges The tsble below presents their production posblites schedules s.f the two countries decided o combine ther resources, whst sthe maxlmum amount of poteoes the two courbles could produce O 750 ton 01,000 tons O 250 tors b. couies decided to combine the ouces, whet is the maxlmum amaure of seuseges th produce cees coule O250 tora O 750tara O150 tons lfthe two countlea apec slze and produce the good In which they have āsampdraeve งdvareege, whee·the madmum cambinetion of potstces and usges they can produce togethe 0500 tona of Potatoes ธาร 200 tons of asuaagea 250 tors of paroesnd 150tn of sausnge 750ons of patatoes and 350 tons a d. uing the three combined amounts ofproducten, graph 슭e eombined Producton posslbitees from er for He and end Scodend. Instructions Use the toal provided PPF to plat the conbined production poaslbi es frortder paint by point (3 pointa tots Production Possibilnies FrontierModule 2 Homework Saved Help Save & Exit Submit 9 Circular Flow Model Exercise 1 Consider the circular flow model to answer the questions that follow. a. In the circular flow model, households provide inputs to firms through the (Click to select)and in exchange receive 5 points (Click to select) ﹀l from firms b. In the circular flow model, firms receive (Click to select) from households when households purchase goods and services in the (Click to select) eBook References Mc Graw < Prev 9of 20 Next>question #16 10 The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantities of inputs required by other producers to produce the same amount of that good, points Mulsple Choice has a low opportunity cost of producing that good, relatve to the opportunity costs of other producers. has an absolute advantage In the production of that goad chould bo the only producer of that good has a comparatve advantage In the production of that goodModule 2 Homework Help Save &Exit Submit MC Qu. 82 A polnt outside (to the right... 12 A point outside to the right of) the production possibilities frontier is points Muluple Choice efficient. easly atanable. not attalnable. Inefficlant.Module 2 Homework Saved Help Save& Exit Submlt MC Qu. 18 The maln function of the entrepreneur... 13 The main function of the entrepreneur is to Mutple Choice make routino pricing docisions. purchace capital create market demand InnovateModule 2 Homework Help Save & Exit Submit MC Qu. 87 Use the following table to answer... Use the following table to answer the question below. Daves Production Possibilities Schedule Pounds of Green Beans 20 40 60 80 Pounds of Corn 160 120 80 40 Daves opportunity cost of producing 1 pound of green beans is pound(s) of corn. Multiple Choice 1/2 KPrev 14 of 20 Next >Module 2 Homework Help Save & Exit Submt MC Qu. 141 A natlon can produce two products:.. A nation can produce two products: steel and wheat. The table below is the nations production possibilities schedule: Production Possibilities Schedule points Product Steel Wheat 108 90 75 30 In moving stepwise from possibility A to B to C..to F, the opportunity cost of a unit of steel in terms of wheat Reterences Multiple Choice remalns constant Increases at first then decroasesModule 2 Homework 6 Help Save & Exit Submit MC Qu. 98 Use the following table to answer.. 18 Use the following table to answer the question below. Dake s Production Possibilities Schedule Pounds of Green Beans anes Production Possibilities Schedule Pounds of Green Beans 10 20 30 40 Pounds of Corn 160 128 80 40 20 40 60 80 Pounds of Corn 80 60 40 20 Who has th e comparative advantage in the production of green beans? Multiple Choice Jake Both Neithor Prev 18 of 20 Next >

Please Give a detailed explanation, not just an answer! I am trying to learn I'm a UCF student "go knights"!

ECO20023

UCF, Homework 2

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Answer #1

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Fishing lures 40 32 24 16 8 0
Duck decoys 0 10 20 30 40 50

since for every 8 fishing lures there will be 10 duck decoys, so when there are 40 fishing lures ,there are 0 duck decoys as given and after that duck decoys increase by 10 and fishing lures decrease by 8 till the last combination of 0 fishing lures and 50 duck decoys.

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