Homework Answers
Question 4 (4 points) In a single year, the US can produce 30 soybeans or 150...
Question 4 (4 points) In a single year, the US can produce 30 soybeans or 150 avocados. Mexico can produce 15 soybeans or 60 avocados. Suppose Mexico experiences a technological advancement that allows Mexico to produce 90 units of avocados. 1) With the technological advancement, what is the opportunity cost of producing 1 soybean in terms of avocados for Mexico? (Only put numbers) 2) With the technological advancement, what is the opportunity cost of producing 1 avocado in terms of...
Soybeans USA Mexico 90 Avocados 1. Based on the above PPFs for the United States and...
Soybeans USA Mexico 90 Avocados 1. Based on the above PPFs for the United States and Mexico, which region has an absolute advantage in Soybean production? Which region has an absolute advantage in Avocado production? (20 Points) 1. Please complete the following opportunity cost table. (Hint: In order to produce one unit of Soybeans how many Avocados must U.S./Mexico give up and in order to produce one unit of Avocados how much Soybeans must U.S./Mexico give up.) (20 Points) Opportunity...
5 and 6 please Chapter 3&18 Intl Trade, Comparative Advantage Mexico PPC Product ABCDE Avocados Soybeans...
5 and 6 please
Chapter 3&18 Intl Trade, Comparative Advantage Mexico PPC Product ABCDE Avocados Soybeans 0 20 24 40 60 1510 9 5 0 U.S. PPC Product RSTUV Avocados 0 30 33 60 90 Soybeans 30 20 1910 O Comparative Advantage Questions 1.A What is Mexico's opportunity cost for producing Avocados? 1.B What is Mexico's opportunity cost for producing Soybeans? 2.A What is the U.S.'s opportunity cost for producing Avocados? 2.B What is the U.S's opportunity cost for producing...
1. Comparative Advantage (5 points) The following chart represents the production capabilities of the US and...
1. Comparative Advantage (5 points) The following chart represents the production capabilities of the US and Japan:. Output per worker-day Country Food Clothing US 2 1 Japan 3 9 a) Which country has an absolute advantage in food production? In clothing? Why? b) What is the US opportunity cost of producing food? Of clothing? Why? c) What is Japan's opportunity cost of producing food? Of clothing? Why? d) Which country has a comparative advantage in producing food? Why? e) Which...
Assume three 2. Critical Thinking: Assume three trade partners: the U.S., China, and Brazil. The following...
Assume three
2. Critical Thinking: Assume three trade partners: the U.S., China, and Brazil. The following information represents 2019 production estimates gathered from Index Mundi and World Atlas. The U.S. can produce 347 million tons of com, 117 million tons of soybeans, and 20 million tons of chicken meat. China can produce 254 million tons of com, 12 million tons of soybeans, and 16 million tons of chicken meat. Brazil can produce 101 million tons of com, 96 million tons...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows what 100 workers can produce in one day in each country. Country Car Production-100 Beer Production (truckload)- 100 or workers workers United States 300 or 1200 Mexico 200 1000 or For this question, assume they can use the same workers to produce any amount in between the two and the opportunity cost is constant straight PPF a) Use the info in the table to...
I got two wrong. Im guessing two of the last four but im not sure. Partial...
I got two wrong. Im guessing two of the last four but im not
sure.
Partial Question 1 16.67 / 20 pts The table below describes production possibilities for Mexico and Nigeria. Each number in the table shows the number of workers needed to produce one unit of the product Shoes Glasses Country Mexico 10 12 Nigeria 18 5 1. What is the opportunity cost of producing Shoes in Mexico? .833 _Glasses 2. What is the opportunity cost of producing...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day)...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day) Cloth 10 (tons per day) Prus. 0 20 0 0 40 60 80 100 Wheat (tons per day) 0 0 0 100 Wheat (tons per day) Use the Production Possibilities Curves for U.S. and Mexico to determine i. In what commodity do United States has a comparative advantage over Mexico? il. In what commodity do Mexico has a comparative advantage over United States? iii....
Production, Economic Growth, and Trade – Work It Out: Question 2 of 2 The accompanying table...
Production, Economic Growth, and Trade – Work It Out: Question 2 of 2 The accompanying table gives how many pairs of skis and sleds Denmark and Iceland can produce using one day's worth of labor. Sleds Country Skis Denmark 4 12 Iceland 6 Use the the table to answer the following questions Round your answers to two decimal places as needed. What is Denmark’s opportunity cost of producing a pair of sleds skis? What is Denmark’s opportunity cost of producing...
Practice Problem Canada and the US both produce wheat and lumber. Assuming Canada and the US...
Practice Problem Canada and the US both produce wheat and lumber. Assuming Canada and the US are using the same amount of capital and labor, the table below shows what each country is capable of producing on its own wheat lumber (tons) Country (bushels) Canada 40 100 United States 60 30 Who has the absolute advantage in producing wheat? In producing lumber? 1 2. What is Canada's opportunity cost of producing 1 bushel of wheat? What is the United States'?...
Question 4 (4 points) In a single year, the US can produce 30 soybeans or 150 avocados. Mexico can produce 15 soybeans or 60 avocados. Suppose Mexico experiences a technological advancement that allows Mexico to produce 90 units of avocados. 1) With the technological advancement, what is the opportunity cost of producing 1 soybean in terms of avocados for Mexico? (Only put numbers) 2) With the technological advancement, what is the opportunity cost of producing 1 avocado in terms of...
Soybeans USA Mexico 90 Avocados 1. Based on the above PPFs for the United States and Mexico, which region has an absolute advantage in Soybean production? Which region has an absolute advantage in Avocado production? (20 Points) 1. Please complete the following opportunity cost table. (Hint: In order to produce one unit of Soybeans how many Avocados must U.S./Mexico give up and in order to produce one unit of Avocados how much Soybeans must U.S./Mexico give up.) (20 Points) Opportunity...
5 and 6 please
Chapter 3&18 Intl Trade, Comparative Advantage Mexico PPC Product ABCDE Avocados Soybeans 0 20 24 40 60 1510 9 5 0 U.S. PPC Product RSTUV Avocados 0 30 33 60 90 Soybeans 30 20 1910 O Comparative Advantage Questions 1.A What is Mexico's opportunity cost for producing Avocados? 1.B What is Mexico's opportunity cost for producing Soybeans? 2.A What is the U.S.'s opportunity cost for producing Avocados? 2.B What is the U.S's opportunity cost for producing...
Assume three
2. Critical Thinking: Assume three trade partners: the U.S., China, and Brazil. The following information represents 2019 production estimates gathered from Index Mundi and World Atlas. The U.S. can produce 347 million tons of com, 117 million tons of soybeans, and 20 million tons of chicken meat. China can produce 254 million tons of com, 12 million tons of soybeans, and 16 million tons of chicken meat. Brazil can produce 101 million tons of com, 96 million tons...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows what 100 workers can produce in one day in each country. Country Car Production-100 Beer Production (truckload)- 100 or workers workers United States 300 or 1200 Mexico 200 1000 or For this question, assume they can use the same workers to produce any amount in between the two and the opportunity cost is constant straight PPF a) Use the info in the table to...
I got two wrong. Im guessing two of the last four but im not
sure.
Partial Question 1 16.67 / 20 pts The table below describes production possibilities for Mexico and Nigeria. Each number in the table shows the number of workers needed to produce one unit of the product Shoes Glasses Country Mexico 10 12 Nigeria 18 5 1. What is the opportunity cost of producing Shoes in Mexico? .833 _Glasses 2. What is the opportunity cost of producing...
Question 1: Exhibit 1 - Production possibilities curves for U.S. and Mexico? Cloth (tons per day) Cloth 10 (tons per day) Prus. 0 20 0 0 40 60 80 100 Wheat (tons per day) 0 0 0 100 Wheat (tons per day) Use the Production Possibilities Curves for U.S. and Mexico to determine i. In what commodity do United States has a comparative advantage over Mexico? il. In what commodity do Mexico has a comparative advantage over United States? iii....
Production, Economic Growth, and Trade – Work It Out: Question 2 of 2 The accompanying table gives how many pairs of skis and sleds Denmark and Iceland can produce using one day's worth of labor. Sleds Country Skis Denmark 4 12 Iceland 6 Use the the table to answer the following questions Round your answers to two decimal places as needed. What is Denmark’s opportunity cost of producing a pair of sleds skis? What is Denmark’s opportunity cost of producing...
Practice Problem Canada and the US both produce wheat and lumber. Assuming Canada and the US are using the same amount of capital and labor, the table below shows what each country is capable of producing on its own wheat lumber (tons) Country (bushels) Canada 40 100 United States 60 30 Who has the absolute advantage in producing wheat? In producing lumber? 1 2. What is Canada's opportunity cost of producing 1 bushel of wheat? What is the United States'?...
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