Homework Answers
Answer:
c. 6/5 of a pound of bread
reason: Andrew can make 1 pound of cake in 24 minutes. He can also make 1 pound of bread in 20 minutes. He takes more time to make a pound of cake. So, in order to make an additional pound of cake, Andrew would have to give up 6/5 pound of a bread.
(He takes less time for bread. In the time he makes another pound of cake, he would have finished making a pound of bread and more.)
Add Answer to:
O QUESTION 8 Suppose Andrew and Julia can switch between producing bread and producing cake at...
Table 3-5 Assume that England and Portugal can switch between producing cheese and producing bread at...
Table 3-5 Assume that England and Portugal can switch between producing cheese and producing bread at a constant rate. Labor Hours Needed to Make 1 Unit of Cheese Bread 3 3 12 England Portugal Refer to Table 3-5. Which of the following combinations of cheese and bread could England produce in 24 hours? a. 7 units of cheese and 6 units of bread b. 6 units of cheese and 8 units of bread c. 8 units of cheese and 3...
Table 3-8 Assume that England and Spain can switch between producing cheese and producing bread at...
Table 3-8 Assume that England and Spain can switch between producing cheese and producing bread at a constant rate. Labor Hours Needed to Make 1 Unit of Number of Units Produced in 24 Hours Cheese Bread Cheese Bread 16 Refer to Table 3-8. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for Spain. If we were to do this, measuring cheese along the horizontal axis, then...
Assume that country A and country B can switch between producing wheat and producing beef at a constant rate.
Assume that country A and country B can switch between producing wheat and producing beef at a constant rate.Minutes Needed to Make 1Bushel of WheatPound of BeefCountry A20 min12 minCountry B15 min10 min1. What is Country A’s opportunity cost of producing one pound of beef?a.3/5 bushel of wheatb.6/5 bushels of wheatc.4/3 bushels of wheatd.5/3 bushels of wheat2. What is Country A’s opportunity cost of producing one bushel of wheat?a.3/5 pound of beefb.6/5 pounds of beefc.4/3 pounds of beefd.5/3 pounds of...
Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing hairbrushes at a constant...
Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing hairbrushes at a constant rate. Machine Minutes Needed to Make 1 Toothbrush Hairbrush Zimbabwe 3 10 Portugal 5 efer to Table 3-6. Assume that Zimbabwe and Portugal each has 180 machine minutes available. If each country divides its time equally tween the production of toothbrushes and hairbrushes, then total production is D a. 48 toothbrushes and 24 hairbrushes. D b. 720 toothbrushes and 1440 hairbrushes. D c. 96...
Table 3-20 Assume that Brad and Theresa can switch between producing wheat and producing beef at...
Table 3-20 Assume that Brad and Theresa can switch between producing wheat and producing beef at a constant rate. Minutes Needed to Make 1 Bushel of Wheat Brad Theresa 10 6 Pound of Beef 12 10 Refer to Table 3-20. Brad has an absolute advantage in the production of A) wheat and Theresa has an absolute advantage in the production of beef. B) beef and Theresa has an absolute advantage in the production of wheat. C) both goods and Theresa...
Table 3-20 Assume that Brad and Theresa can switch between producing wheat and producing beef at...
Table 3-20 Assume that Brad and Theresa can switch between producing wheat and producing beef at a constant rate. Minutes Needed to Make 1 Bushel of Wheat Pound of Beef Brad 10 12 Theresa 6 10 Refer to Table 3-20. Brad has a comparative advantage in the production of wheat and Theresa has a comparative advantage in the production of beef. beef and Theresa has a comparative advantage in the production of wheat. both goods and Theresa...
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing...
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Pork Tomatoes Tomatoes Pork Farmer Rancher 4 Refer to Table 3-23. Assume that the farmer and the rancher each has 24 labor hours available. If each person spends all his time producing the good in which he has a comparative advantage, then total production is
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing...
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Pork Tomatoes Tomatoes Pork Farmer Rancher 4 Refer to Table 3-23. Assume that the farmer and the rancher each has 24 labor hours available. If each person spends all his time producing the good in which he has a comparative advantage, then total production is
Assume that Jamaica and Norway can switch between producing coolers and producing radios at a constant...
Assume that Jamaica and Norway can switch between producing coolers and producing radios at a constant rate. The following table shows the number of coolers or number of radios each country can produce in one day. Output Produced in One Day Coolers Radios Jamaica 12 6 Norway 24 3 Suppose Jamaica decides to increase its production of radios by 12. What is the opportunity cost of this decision? 3 coolers 6 coolers 12 coolers 24 coolers
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing...
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pork Pounds Produced in 24 Hours Pork Tomatoes omatoe:s Farmer Rancher 4 4 9. Refer to Table 3-23. Assume that the farmer and the rancher each has 24 labor hours available. If each person spends all his time producing the good in which he has a comparative advantage, then total production...
Table 3-5 Assume that England and Portugal can switch between producing cheese and producing bread at a constant rate. Labor Hours Needed to Make 1 Unit of Cheese Bread 3 3 12 England Portugal Refer to Table 3-5. Which of the following combinations of cheese and bread could England produce in 24 hours? a. 7 units of cheese and 6 units of bread b. 6 units of cheese and 8 units of bread c. 8 units of cheese and 3...
Table 3-8 Assume that England and Spain can switch between producing cheese and producing bread at a constant rate. Labor Hours Needed to Make 1 Unit of Number of Units Produced in 24 Hours Cheese Bread Cheese Bread 16 Refer to Table 3-8. We could use the information in the table to draw a production possibilities frontier for England and a second production possibilities frontier for Spain. If we were to do this, measuring cheese along the horizontal axis, then...
Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing hairbrushes at a constant rate. Machine Minutes Needed to Make 1 Toothbrush Hairbrush Zimbabwe 3 10 Portugal 5 efer to Table 3-6. Assume that Zimbabwe and Portugal each has 180 machine minutes available. If each country divides its time equally tween the production of toothbrushes and hairbrushes, then total production is D a. 48 toothbrushes and 24 hairbrushes. D b. 720 toothbrushes and 1440 hairbrushes. D c. 96...
Table 3-20 Assume that Brad and Theresa can switch between producing wheat and producing beef at a constant rate. Minutes Needed to Make 1 Bushel of Wheat Brad Theresa 10 6 Pound of Beef 12 10 Refer to Table 3-20. Brad has an absolute advantage in the production of A) wheat and Theresa has an absolute advantage in the production of beef. B) beef and Theresa has an absolute advantage in the production of wheat. C) both goods and Theresa...
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Pork Tomatoes Tomatoes Pork Farmer Rancher 4 Refer to Table 3-23. Assume that the farmer and the rancher each has 24 labor hours available. If each person spends all his time producing the good in which he has a comparative advantage, then total production is
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Pork Tomatoes Tomatoes Pork Farmer Rancher 4 Refer to Table 3-23. Assume that the farmer and the rancher each has 24 labor hours available. If each person spends all his time producing the good in which he has a comparative advantage, then total production is
Table 3-23 Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pork Pounds Produced in 24 Hours Pork Tomatoes omatoe:s Farmer Rancher 4 4 9. Refer to Table 3-23. Assume that the farmer and the rancher each has 24 labor hours available. If each person spends all his time producing the good in which he has a comparative advantage, then total production...
Most questions answered within 3 hours.
-
An entomologist discovers a dung beetle rolling a ball of dung
along the ground, and decides...
asked 3 minutes ago -
Humans have used horses for transportation for millions of
years. Therefore, they will use horses for...
asked 1 hour ago -
The following are the Jensen Corporation's unit costs of making
and selling an item at a...
asked 2 hours ago -
Does direct Medicare reimbursement of Advanced practice nurses
increase access to their services?
asked 3 hours ago -
List and explain why a company would choose to use a
published
compensation survey vs. creating...
asked 3 hours ago -
A discrete random variable X can take values from 1 to 10. Find
the variance of...
asked 3 hours ago -
The primary financial goal of a corporation is to maximize:
shareholders wealth.
earnings per share.
stock...
asked 3 hours ago -
determine whether the vectors u=(1,2,3,), v=(-2,1,0) and
w=(1,0,1) are linearly dependent or independent.
asked 3 hours ago -
python
Define a function called print_values which takes a dictionary
object as a parameter. The function...
asked 4 hours ago -
In Chapter 1 you created a program named Triangle in
which you displayed a seven-line triangle...
asked 4 hours ago -
Research question: What are the differences between separately
stated and non separately stated transactions in an...
asked 5 hours ago -
By using Arduino write a code that connects two LEDs to two
push-buttons. Each button controls...
asked 6 hours ago