An economy has two workers, Bella and Edward. Per day of work, Bella can pick 45 apples or 90 bananas, and Bill can pick 60 apples or 60 bananas. Bella and Edward each work 200 days per year. a. Bella's opportunity cost of picking one more apple is (Click to select) Edward's opportunity cost of picking one more apple is (Click to select) (Click to select) has a comparative advantage in apple picking. (Click to select) has an absolute advantage in apple picking. b. Assuming that only one fruit is picked in this economy, then the maximum number of each type of fruit that can be picked annually is either apples or bananas. c. If each worker fully specializes according to his or her comparative advantage, the maximum number of apples that can be picked annually is and the maximum number of bananas is

Randy and Frank are both landscapers. Randy can mow 12 lawns per day or prune 15 trees. Frank can mow 16 lawns per day or prune 24 trees. Randy and Frank each work 240 days per year. a. Determine who has the absolute advantage at each task, what their respective opportunity costs are for mowing a lawn, and who has comparative advantage in each task. (Click to select) (Click to select) The opportunity cost of mowing a lawn for Randy is The opportunity cost of mowing a lawn for Frank is (Click to select) ✓has a comparative advantage in mowing lawns. (Click to select) has a comparative advantage in pruning trees. b. Assuming that only one of the tasks is performed, then together Randy and Frank can service a maximum of lawns or trees each year. ✓has an absolute advantage in mowing lawns. ✓has an absolute advantage in pruning trees. trees. trees. c. If each landscaper fully specializes according to his comparative advantage, then the maximum number of lawns that can be mowed annually is…

Macmillan Learning The accompanying graph shows the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses. The PPF shows the quantities of rubber band balls and rubber hoses Rubberland can produce in one day. Point A represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Shift the PPF to show this change. Assume that Rubberland does not make more rubber band balls than it originally made at point A but still maximizes its output. Move point A to the new combination of the two goods. How many more rubber hoses does Rubberland now produce per day than before? Quantity of rubber band balls 200 180 160 140 120 100 Rubberland's Production Possibilities A 80 60 40 642 20 PPF 0 0 10 30 20 40 50 60 70 Quantity of rubber hoses 80 90 100 80 20 more hoses per day

In Italian restaurant, Jack needs 1 hour and a half to prepare pizza and 1 hour to make lasagna.   Pascal needs 2 hours to make a pizza and 1 hour and a half to make a lasagna. Which one has the comparative advantage in preparing pizza, in preparing lasagna. Explain your answer. Which one has the absolute advantage in preparing lasagna, in preparing Pizza. Explain your answer.

I don't understand the second part of this homework. If Frankie and Johnny completely specialize according to comparative advantage, what will happen to the amount of eggs and milk? I have the opportunity cost calculated to understand who should do what in this case. But what will I do to that number?

Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can either make 10 loaves of bread or 40 muffins, while Julia can either make 12 loaves of bread or 60 muffins. Both Martha and Julia work 8 hours a day. Draw julias daily PPC  What is the opportunity cost to each of making one loaf of bread? Martha's opportunity cost of making a loaf of bread    muffins Julia's opportunity cost of making a loaf of bread    muffins  What is the opportunity cost to each of making one muffin? Martha's opportunity cost of making a muffin    loaves of bread Julia's opportunity cost of making a muffin    loaves of bread Who has the comparative advantage in making bread? Julia Martha Neither  Who has the absolute advantage in making bread? Neither Martha Julia   Suppose you are the owner of the bakery. If Julia and Martha are currently both spending all of their time making muffins, then which of them should you ask to start making bread?…

Both Geppetto and Lewis are toy store owners. They decide that they would like to trade puzzles and puppets in order to better stock their toy store shelves. The table below compares their production possibilities schedules. Production Possibilities Schedules Geppetto Lewis Puzzles Puppets Puzzles Puppets 90 75 10 8 60 15 12 16 45 20 8 24 30 25 32 40 030 Instructions: Enter your answers as a whole number. a. Geppetto and Lewis agree to trade at a rate of 3 puzzles for each puppet. With those terms of trade, who is most likely to be the supplier of puzzles? Who is most likely to be the supplier of puppets? Puzzles: (Click to select) Puppets: (Click to select) b. The two toy store owners agree to specialize and to trade 30 puzzles for 10 puppets. The terms of trade are still 3 puzzles for each puppet. How many puzzles and puppets will each one have after they complete their trade? Lewis: puzzles and puppets Geppetto: puzzles and puppets

If Sport Country currently produces 100 bats and 400 rackets, what is the opportunity cost of an additional 100 bats? rackets. (only provide numbers, no alphabets or special characters). If Sport Country currently produces 300 bats and 300 rackets, what is the opportunity cost of an additional 100 bats? rackets. (only provide numbers, no alphabets or special characters). Suppose Sport Country currently produces 200 bats and 200 rackets. How many additional rackets could they produce without giving up any bats? rackets. (only provide numbers, no alphabets or special characters).

Bill and Fred bake cakes and pies. Bill's opportunity cost of baking 1 pie is 5 cakes. Fred's opportunity cost of baking 1 pie is 7 cakes. If both parties are to benefit from trade then we can expect 1 pie to sell for:

Each day, Ted can wax 6 cars or wash 12 cars, and Ishana can wax 3 cars or wash 9 cars.   What is each person's opportunity cost of washing a car?   Instructions: Enter your responses rounded to two decimal places.   Ted's opportunity cost of washing one car is  wax jobs.   Ishana's opportunity cost of washing one car is  wax jobs.   Who has a comparative advantage in washing cars?   multiple choice Neither Ted