Homework Answers
a)75
b)because they have a linear ppf
c)125
d)50
60
e)75,125
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I need help with E mainly.
2. Suppose that Happy Land produces only two goods-food and...
2. Suppose that Happy Land produces only two goods-food and suntan oil. Its production possibilities are:...
2. Suppose that Happy Land produces only two goods-food and suntan oil. Its production possibilities are: Food (pounds per month) Suntan oil (gallons per month) 300 200 50 100 150 Active Land also produces only food and suntan oil, and its production possibilities are: 100 Suntan oil (gallons per month) Food (pounds per month) 150 100 50 0 100 200 300 Draw the two PPFs a. What are the opportunity costs of food and suntan oil in Happy Land? b....
Please answer the following questions: Suppose that Leisureland produces only two goods-food and sunscreen. The table...
Please answer the following questions: Suppose that Leisureland produces only two goods-food and sunscreen. The table gives its production possibilities. Food (lbs/month) Sunscreen (lbs/month) 300 and 0 200 and 50 100 and 100 0 and 150 1)Draw a graph of Leisureland's production possibility frontier. 2)What are the opportunity costs of producing food and sunscreen in Leisureland? List them at each output given in the table. 3)Why are the opportunity costs the same at each output level? Busyland also produces only...
Q 1: Clancy and Eileen are farmers. Each one owns a 20-acre plotof land. The...
Q 1: Clancy and Eileen are farmers. Each one owns a 20-acre plot
of land. The following table shows the amount of corn and rye each
farmer can produce per year on a given acre. Each farmer chooses
whether to devote all acres to producing corn or rye or to produce
corn on some of the land and rye on the rest.CornRye(Bushels per acre)(Bushels per acre)Clancy205Eileen5010On the following graph, use the blue line (circle symbol) to
plot Clancy's production possibilities...
Question 4 2 pts Assume both Italy and Greece produce only two goods: wine and olive...
Question 4 2 pts Assume both Italy and Greece produce only two goods: wine and olive oil. If Italy holds a comparative advantage in the production of wine, then which of the following statements is NOT true? O Greece holds the comparative advantage in the production of olive oil 0 Italy produces wine at a lower opportunity cost than Greece These countries have an incentive to trade 0 Italy may hold an absolute advantage in the production of olive oil...
Question 1: Germany and India only produce two goods. They have the same fixed resources, are...
Question 1: Germany and India only produce two goods. They have the same fixed resources, are equally efficient, and both countries have constant opportunity costs between two the goods. In one month, Germany can produce 200,000 automobiles or 60,000 hand-held computers. India can produce 150,000 automobiles or 50,000 hand-held computers. A. Graph the given information. B. What is the opportunity cost for Germany to produce automobiles? C. What is the opportunity cost for India to produce automobiles? D. What is...
just need e and f Q.4 (18 points) Suppose that Germany and France both produce cheese...
just need e and f
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of production of the two countries are shown in the following table. Assume that the opportunity cost is constant. Germany France Daily production Produce cheese only (pounds) Produce wine only (bottles) 300 150 150 100 (a) Draw the PPF for Germany. Put cheese on the vertical axis, and wine on the horizontal axis. Indicate the values of both intercepts. (b)...
Consider two countries, A and B. Each country produces only two goods with 1,000 production units:...
Consider two countries, A and B. Each country produces only two goods with 1,000 production units: Wine and Cheese. Country A can produce 400 bottles of wine or 200 pounds of cheese or any combination of two goods. At the same time, country B can produce 1200 bottles of wine or 300 pounds of cheese or any combination of two goods. Suppose that both countries maximize their utility when they consume wine and cheese in equal proportions. 1. a) Absolute...
I only need part e and f, but i added all the questions for reference! Thanks!...
I only need part e and f, but
i added all the questions for reference! Thanks!
Suppose the hypothetical table below reflects the maximum production levels that are possible for each country when current resources and technology flow to each good's production. Use the information to answer the questions below 1. United States China Engines produced 600,000 200,000 per week Pairs of shoes 300,000 350,000 produced per week a. Draw each country's PPF assuming constant opportunity costs. Assume in the...
Figure 2-1 4) Refer to Figure 2-1. Point A is A) technically efficient. B) unattainable with...
Figure 2-1 4) Refer to Figure 2-1. Point A is A) technically efficient. B) unattainable with current resources. C) inefficient in that not all resources are being used. D) the equilibrium output combination. 5) Refer to Figure 2-1. Point B is A) technically efficient. B) unattainable with current resources. C) inefficient in that not all resources are being used. D) the equilibrium output combination. 6) Refer to Figure 2-1. Point C is A) technically efficient. B) unattainable with current resources....
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of...
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of production of the two countries are shown in the following table. Assume that the opportunity cost is constant. Daily production Produce cheese only (pounds) Produce wine only (bottles) Germany 300 1.50 France 150 100 (a) Draw the PPF for Germany. Put cheese on the vertical axis, and wine on the horizontal axis. Indicate the values of both intercepts. (b) Which country has the absolute...
2. Suppose that Happy Land produces only two goods-food and suntan oil. Its production possibilities are: Food (pounds per month) Suntan oil (gallons per month) 300 200 50 100 150 Active Land also produces only food and suntan oil, and its production possibilities are: 100 Suntan oil (gallons per month) Food (pounds per month) 150 100 50 0 100 200 300 Draw the two PPFs a. What are the opportunity costs of food and suntan oil in Happy Land? b....
Q 1: Clancy and Eileen are farmers. Each one owns a 20-acre plot
of land. The following table shows the amount of corn and rye each
farmer can produce per year on a given acre. Each farmer chooses
whether to devote all acres to producing corn or rye or to produce
corn on some of the land and rye on the rest.CornRye(Bushels per acre)(Bushels per acre)Clancy205Eileen5010On the following graph, use the blue line (circle symbol) to
plot Clancy's production possibilities...
Question 4 2 pts Assume both Italy and Greece produce only two goods: wine and olive oil. If Italy holds a comparative advantage in the production of wine, then which of the following statements is NOT true? O Greece holds the comparative advantage in the production of olive oil 0 Italy produces wine at a lower opportunity cost than Greece These countries have an incentive to trade 0 Italy may hold an absolute advantage in the production of olive oil...
just need e and f
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of production of the two countries are shown in the following table. Assume that the opportunity cost is constant. Germany France Daily production Produce cheese only (pounds) Produce wine only (bottles) 300 150 150 100 (a) Draw the PPF for Germany. Put cheese on the vertical axis, and wine on the horizontal axis. Indicate the values of both intercepts. (b)...
I only need part e and f, but
i added all the questions for reference! Thanks!
Suppose the hypothetical table below reflects the maximum production levels that are possible for each country when current resources and technology flow to each good's production. Use the information to answer the questions below 1. United States China Engines produced 600,000 200,000 per week Pairs of shoes 300,000 350,000 produced per week a. Draw each country's PPF assuming constant opportunity costs. Assume in the...
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of production of the two countries are shown in the following table. Assume that the opportunity cost is constant. Daily production Produce cheese only (pounds) Produce wine only (bottles) Germany 300 1.50 France 150 100 (a) Draw the PPF for Germany. Put cheese on the vertical axis, and wine on the horizontal axis. Indicate the values of both intercepts. (b) Which country has the absolute...
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