Zambia can produce a maximum of 100 million bushels of corn or a maximum of 60...
Zambia can produce a maximum of 100 million bushels of corn or a maximum of 60 million cars. Japan can produce a maximum of 80 million bushels of corn of 60 million cars. For Zambia, the opportunity cost of corn in terms of cars is _____. (write as a decimal or fraction)
Homework Answers
The opportunity cost of corn in zambia will be 60/100 = 0.6 cars. i.e. for Zambia to produce a million corn in the market they have to give up 0.6 million cars.
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Zambia can produce a maximum of 100 million bushels of corn or a
maximum of 60...
In 10 hours, the U.S. can produce 35 bushels of corn. In 7 hours, the U.S....
In 10 hours, the U.S. can produce 35 bushels of corn. In 7 hours, the U.S. can produce 30 bushels of wheat. What is the opportunity cost of producing 1 bushel of corn (in terms of bushels of wheat)? Enter your answer as a fraction OR a number with two decimals. Hint: Calculate how much of each good can be produced in 1 hour, then solve for the amount of foregone wheat when choosing to produce a bushel of corn.
1. A country can produce either 16 pounds of fish or 9 bushels of corn. What...
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9.(4 points) In Mexico, a worker can produce 80 bushels of corn or 20 bags of...
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Saudi Arabia can produce 100 barrels of oil using 100 worker hours or 25 bushels of...
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Consider two neighboring island countries called Dolorium and Content. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both
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Content. They each have 4 million labor hours available per week
that they can use to produce jeans, corn, or a combination of both.
The following table shows the number of jeans or corn that can be
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4. Problems and Applications Q4 Suppose that there are 10 million workers in Japan and that...
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1. With given resources and technology, a country can produce either 100 million cars or 50...
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An American worker can produce either 5 cars or 8 tons of grain a year. A...
An American worker can produce either 5 cars or 8 tons of grain a year. A lapanese worker can produce either 4 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers Complete the foflowing table with the number of workers needed to make one car or 1 ton of grain in the United States and Japan. Workers Needed to Make 1 Car 1 Ton of Grain United StatesY Japan...
In 10 hours, the U.S. can produce 35 bushels of corn. In 7 hours, the U.S. can produce 30 bushels of wheat. What is the opportunity cost of producing 1 bushel of corn (in terms of bushels of wheat)? Enter your answer as a fraction OR a number with two decimals. Hint: Calculate how much of each good can be produced in 1 hour, then solve for the amount of foregone wheat when choosing to produce a bushel of corn.
In a month, Carlos can produce a maximum of either 50 bushels of pears or 25 bushels of apples, or any linear combination in between.Similarly, Diane can produce a maximum of either 24 bushels of pears or 6 bushels of apples, or any linear combination in between.What is the opportunity cost for Carlos to produce one more bushel of apples in terms of pears? One bushel of apples equals _______ bushels of pears.
9.(4 points) In Mexico, a worker can produce 80 bushels of corn or 20 bags of coffee. In Costa Rica, a worker can produce 10 bushels of corn or 60 bags of coffee. Coffee (bags) Country Mexico Corn (bushels) 80 or 20 Costa Rica 10 or 60 a. Who has the absolute advantage in the production of corn? b. Who has the absolute advantage in the production of coffee? c. Which country has a comparative advantage in producing corn? d....
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An American worker can produce either 5 cars or 8 tons of grain a year. A lapanese worker can produce either 4 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers Complete the foflowing table with the number of workers needed to make one car or 1 ton of grain in the United States and Japan. Workers Needed to Make 1 Car 1 Ton of Grain United StatesY Japan...
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