Suppose the United States can produce 500 cars or 500 trucks. Mexico can produce either 500 cars or 250 trucks. The opportunity cost of producing 1 car in Mexico is: A. 1 truck. B. 2 trucks....
Suppose the United States can produce 500 cars or 500 trucks. Mexico can produce either 500 cars or 250 trucks. The opportunity cost of producing 1 car in Mexico is:
| A. |
1 truck. |
|
| B. |
2 trucks. |
|
| C. |
1/2 of a truck. |
|
| D. |
1/4 of a truck. |
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Suppose the United States can produce 500 cars or 500 trucks. Mexico can produce either 500 cars or 250 trucks. The opportunity cost of producing 1 car in Mexico is: A. 1 truck. B. 2 trucks....
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons of grain a year. A Japanese worker can produce either 3 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following 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...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons of grain a year. A Japanese worker can produce either 3 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following 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 Car1 Ton of...
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...
suppose the united states is currently producing 200 tons of hamburgers and 90 tons of tacos mexico is cutrently produc...
suppose the united states is currently producing 200 tons of
hamburgers and 90 tons of tacos mexico is cutrently producing 20
tons of hamburgers and 50 tons of tacoes if the united states and
mexico each specialize in producing only one good the good for
which each has a comparitive advantage then a toal of ? additional
tons of hamburgers can be produced for the two countries combines
and a total of ? additional tons of tacoes can be produced...
Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two...
Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented in the table below Mexico Hamburgers in tons) Hamburgers in tons) Tacos (in tons) .888 Which country has an absolute advantage in producing tacos? Which country has a comparative advantage in producing tacos? Suppose the United States is currently producing 120 tons of hamburgers and 30 tons of tacos and Mexico is currently...
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...
Lorenzo is a skilled toy maker who is able to produce both trucks and kites. He...
Lorenzo is a skilled toy maker who is able to produce both
trucks and kites. He has 8 hours a day to produce toys. The
following table shows the daily output resulting from various
possible combinations of his time.
Choice
Hours Producing
Produced
(Trucks)
(Kites)
(Trucks)
(Kites)
A
8
0
4
0
B
6
2
3
11
C
4
4
2
16
D
2
6
1
19
E
0
8
0
20
On the following graph, use the blue points...
Cars (millions) co Suppose that there are 10 million workers in Canada and that each of...
Cars (millions) co Suppose that there are 10 million workers in Canada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year The opportunity cost of producing a car in Canada is bushels of wheat, and the opportunity cost of producing a bushel of wheat in Canada is cars. Use the blue line (circle symbol) to draw Canada's production possibilities frontier (PPF) on the following graph. Then use the black point...
Suppose that one person working in Mexico can produce either 20 yards of cloth or 80...
Suppose that one person working in Mexico can produce either 20 yards of cloth or 80 baskets. Similarly, one person working in Turkey for the same length of time can produce either 15 yards of cloth or 30 baskets. Which of the following statements is true? O A. Turkey has a comparative advantage in baskets; Mexico has a comparative advantage in cloth. O B. In both countries, the opportunity costs of producing cloth and baskets are the same. O C....
Clancy is a skilled toy maker who is able to produce both trucks and kites
Clancy is a skilled toy maker who is able to produce both trucks and kites. He has 8 hours a day to produce toys. The following table shows the detailed output resulting from various possible combinations of his time. On the following graph, use the blue points (circle symbol) to plot Clancy's Initia' production possibilities frontier (PPF). Suppose Clancy is currently uğing combination D, producing one truck per day. His opportunity cost of producing a second truck per day is _______ per...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons of grain a year. A Japanese worker can produce either 3 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following 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...
2. Problems and Applications Q2 An American worker can produce either 5 cars or 9 tons of grain a year. A Japanese worker can produce either 3 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following 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 Car1 Ton of...
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...
suppose the united states is currently producing 200 tons of
hamburgers and 90 tons of tacos mexico is cutrently producing 20
tons of hamburgers and 50 tons of tacoes if the united states and
mexico each specialize in producing only one good the good for
which each has a comparitive advantage then a toal of ? additional
tons of hamburgers can be produced for the two countries combines
and a total of ? additional tons of tacoes can be produced...
Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented in the table below Mexico Hamburgers in tons) Hamburgers in tons) Tacos (in tons) .888 Which country has an absolute advantage in producing tacos? Which country has a comparative advantage in producing tacos? Suppose the United States is currently producing 120 tons of hamburgers and 30 tons of tacos and Mexico is currently...
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...
Lorenzo is a skilled toy maker who is able to produce both
trucks and kites. He has 8 hours a day to produce toys. The
following table shows the daily output resulting from various
possible combinations of his time.
Choice
Hours Producing
Produced
(Trucks)
(Kites)
(Trucks)
(Kites)
A
8
0
4
0
B
6
2
3
11
C
4
4
2
16
D
2
6
1
19
E
0
8
0
20
On the following graph, use the blue points...
Cars (millions) co Suppose that there are 10 million workers in Canada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year The opportunity cost of producing a car in Canada is bushels of wheat, and the opportunity cost of producing a bushel of wheat in Canada is cars. Use the blue line (circle symbol) to draw Canada's production possibilities frontier (PPF) on the following graph. Then use the black point...
Suppose that one person working in Mexico can produce either 20 yards of cloth or 80 baskets. Similarly, one person working in Turkey for the same length of time can produce either 15 yards of cloth or 30 baskets. Which of the following statements is true? O A. Turkey has a comparative advantage in baskets; Mexico has a comparative advantage in cloth. O B. In both countries, the opportunity costs of producing cloth and baskets are the same. O C....
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