Homework Answers
Paulie's opportunity cost = 17/4= 4.25
Vinny's opportunity cost = 6/11= 0.54
Paulie has a comparative advantage in tshirt
Vinny has a comparative advantage in ice cream
( Paulie's opportunity cost of producing t shirt = 4/17= 0.23)
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Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity of each good tha...
Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the...
Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity of each good that Pautie inny each can produce in 1 hour, respectively, if they devote all of their time and effort into making the good. Round all answers to two decimal places. Ice cream (cups) 2.00 T-shirts (quantity) 19.00 11.00 Paulie Vinny 9.00 a. What is Paulie's opportunity cost of producing a cup of ice cream? Paulie's opportunity cost: t-shirts b. What...
Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the...
Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity of each good that Paulie and Vinny each can produce in 11 hour, respectively, if they devote all of their time and effort into making the good. Round all answers to two decimal places. Ice cream (cups) T-shirts (quantity) Paulie 3.003.00 20.0020.00 Vinny 7.007.00 14.0014.00 a. What is Paulie's opportunity cost of producing a cup of ice cream? Paulie's opportunity cost: t‑shirtst‑shirts b....
ent Score: 0% Hint Check Ans of 25 Suppose that Paulie and Vinny each can produce...
ent Score: 0% Hint Check Ans of 25 Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity of each good that Paulie and Vinny each can produce in 1 hour, respectively, if they devote all of their time and effort into making the good. Round all answers to two decimal places. Ice cream (cups) T-shirts (quantity) Paulie 2.00 17.00 Vinny 9.00 15.00 a. What is Paulie's opportunity cost of producing a cup...
Suppose that Paulie and Vince each can produce ice cream or t-shirts. The table shows the...
Suppose that Paulie and Vince each can produce ice cream or t-shirts. The table shows the quantity of each good that Paulie and Vince each can produce in one hour, respectively, if they devote all of their time and effort to making the good. Ice cream T-shirts Cups) (quantity) Pauli Vinc 17 12 What is Paulie's opportunity cost of producing one cup of ice cream (round to two decimal places)? t-shirts 12 vincel What is Paulie's opportunity cost of producing...
Using the same amount of resources, the United States and Canada can both produce lumberjack shirts...
Using the same amount of resources, the United States and Canada can both produce lumberjack shirts and lumberjack boots, as shown in the production possibilities frontiers in the figure to the right Canada has a comparsative advantage in producing lumberjack boots. The United States has a comparative advantage in producing lumberjack shirts 26 44PPF.s Does either country have an absolute advantage in producing both goods? A Neither country has an absolute advantage in both goods because Canada can produce more...
26. Two people make up a small economy producing oats and/or shirts. The table below shows the maximum each indivi...
26. Two people make up a small economy producing oats and/or shirts. The table below shows the maximum each individual can produce in one day for each good (and any linear combination). Oats Shirts Sam 300 100 Lindsay 150 75 a. Who has the comparative advantage in producing Oats? In producing shirts? b. In terms of shirts, what is the cost of producing one unit of oats for For Lindsay? c. If the total number of shirts produced is 100,...
Question 1.Susan can brew 5 gallons of root beer in an hour or she can make...
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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...
please answer all the following Lesson 1.4-Specialization and Trade Tony can produce any of the following...
please answer all the following
Lesson 1.4-Specialization and Trade Tony can produce any of the following combinations of goods X and Y (a) 100 X and O Y, (b) 50 X and 25 Y, and (c) OX and 50 Y. Darlene can produce any of the following combinations of goods X and Y (a) 50 X and O Y, (b) 25 X and 40 Y, and (c) O X and 80 Y. Who has the comparative advantage in the production...
When a country specializes in the production of a good, this means that it can produce...
When a country specializes in the production of a good, this
means that it can produce this good at a lower opportunity cost
than its trading partner. Because of this comparative advantage,
both countries benefit when they specialize and trade with each
other.
The following graphs show the production possibilities frontiers
(PPFs) for Candonia and Lamponia. Both countries produce lemons and
tea, each initially (i.e., before specialization and trade)
producing 6 million pounds of lemons and 3 million pounds of...
Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity of each good that Pautie inny each can produce in 1 hour, respectively, if they devote all of their time and effort into making the good. Round all answers to two decimal places. Ice cream (cups) 2.00 T-shirts (quantity) 19.00 11.00 Paulie Vinny 9.00 a. What is Paulie's opportunity cost of producing a cup of ice cream? Paulie's opportunity cost: t-shirts b. What...
ent Score: 0% Hint Check Ans of 25 Suppose that Paulie and Vinny each can produce ice cream or t-shirts. The table shows the quantity of each good that Paulie and Vinny each can produce in 1 hour, respectively, if they devote all of their time and effort into making the good. Round all answers to two decimal places. Ice cream (cups) T-shirts (quantity) Paulie 2.00 17.00 Vinny 9.00 15.00 a. What is Paulie's opportunity cost of producing a cup...
Suppose that Paulie and Vince each can produce ice cream or t-shirts. The table shows the quantity of each good that Paulie and Vince each can produce in one hour, respectively, if they devote all of their time and effort to making the good. Ice cream T-shirts Cups) (quantity) Pauli Vinc 17 12 What is Paulie's opportunity cost of producing one cup of ice cream (round to two decimal places)? t-shirts 12 vincel What is Paulie's opportunity cost of producing...
Using the same amount of resources, the United States and Canada can both produce lumberjack shirts and lumberjack boots, as shown in the production possibilities frontiers in the figure to the right Canada has a comparsative advantage in producing lumberjack boots. The United States has a comparative advantage in producing lumberjack shirts 26 44PPF.s Does either country have an absolute advantage in producing both goods? A Neither country has an absolute advantage in both goods because Canada can produce more...
26. Two people make up a small economy producing oats and/or shirts. The table below shows the maximum each individual can produce in one day for each good (and any linear combination). Oats Shirts Sam 300 100 Lindsay 150 75 a. Who has the comparative advantage in producing Oats? In producing shirts? b. In terms of shirts, what is the cost of producing one unit of oats for For Lindsay? c. If the total number of shirts produced is 100,...
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...
please answer all the following
Lesson 1.4-Specialization and Trade Tony can produce any of the following combinations of goods X and Y (a) 100 X and O Y, (b) 50 X and 25 Y, and (c) OX and 50 Y. Darlene can produce any of the following combinations of goods X and Y (a) 50 X and O Y, (b) 25 X and 40 Y, and (c) O X and 80 Y. Who has the comparative advantage in the production...
When a country specializes in the production of a good, this
means that it can produce this good at a lower opportunity cost
than its trading partner. Because of this comparative advantage,
both countries benefit when they specialize and trade with each
other.
The following graphs show the production possibilities frontiers
(PPFs) for Candonia and Lamponia. Both countries produce lemons and
tea, each initially (i.e., before specialization and trade)
producing 6 million pounds of lemons and 3 million pounds of...
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