QUESTION 12Assume that a country Owasia operates in the immobile factor model model and is in autarky. It produces candies and toys, employing 30 people in the former industry and 10 in the latter. Eachworker works for nine hours each day. The unit labor requirements in the two industries are 6 hours per toy and 3 hours per candy. Calculate the autarky price ratio, PT / PC, in Owasia.O 2 candies per toyO 1/2 candy per toy3 candies per toyO 6 candies per toyO 1/6 candy per toyQUESTION 13Consider a country with 200 workers operating in the immobile factor model. It produces compact fluorescent lamps (CFL) and tables. Each industry employs equal number of workers, who eachwork six hours per day. The unit labor requirement in the CFL industry is 8 hours per lamp, while that for producing tables is 6 hours per table. Calculate the countryâ s autarky production when it isoperating on its production possibility frontier.O 60 CFLs and 80 tablesO 62.5 CFLs and 83.3 tables67.5 CFLs and 90 tablesO 71.3 CFLs and 95 tablesO 75 CFLs and 100 tablesQUESTION 14Assume that a country Owasia operates in the immobile factor model and is in autarky. It produces candies and toys, employing 20 people in each industry. Each worker works for nine hours eachday. The unit labor requirements in the two industries are 6 hours per toy and 3 hours per candy. Calculate the autarky price ratio, PT / PC, in Owasia.O 2 candies per toyO 1/2 candy per toyO 3 candies per toy6 candies per toyO 1/6 candy per toy

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Assume that a country Owasia operates in the immobile factor model model and is in autarky. It produces candies and toys, employing 30 people in the former industry and 10 in the latter. Each worker works for nine hours each day. The unit labor requirements in the two industries are 6 hours per toy and 3 hours per candy. Calculate the autarky price ratio, PT / PC, in Owasia. O 2 candies per toy O 1/2 candy per toy O 3 candies per toy O 6 candies per toy O 1/6 candy per toy

Assume that a country Owasia operates in the immobile factor model model and is in autarky. It produces candies and toys, employing 30 people in the former industry and 10 in the latter. Each worker works for nine hours each day. The unit labor requirements in the two industries are 6 hours per toy and 3 hours per candy. Calculate the autarky price ratio, PT / PC, in Owasia. O 2 candies per toy O 1/2 candy per toy O 3 candies per toy O 6 candies per toy O 1/6 candy per toy

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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