Note: Same information for questions 1-7, except where noted. For questions 1-7, use any information only after it is given. At a certain point you are told which good is capital-intensive, don't use that information to answer any questions that come before. The two figures show the Production Possibilities Frontier for two countries, Home and Foreign. Also shown for each country is the indifference curve that is tangent to its PPF. There are two factors: capital and labor. There are two goods, Movies and Books. Books 1000 500 0 25 50 HOME Books 1200 1000 500 Movies Movies 0 50 100 125 FOREIGN Which of the following points, all of which are on the Production Possibilities Frontier, is closest to Home's consumption point in autarky? O(9 movies, 950 books). O (18 movies, 900 books). (32 movies, 740 books). (50 movies, 0 books). O This cannot be determined from the information given.

Note: Same information for questions 1-7, except where noted. For questions 1-7, use any information only after it is given. At a certain point you are told which good is capital-intensive, don't use that information to answer any questions that come before. The two figures show the Production Possibilities Frontier for two countries, Home and Foreign. Also shown for each country is the indifference curve that is tangent to its PPF. There are two factors: capital and labor. There are two goods, Movies and Books. Books 1000 500 0 25 50 HOME Books 1200 1000 500 Movies Movies 0 50 100 125 FOREIGN Which of the following points, all of which are on the Production Possibilities Frontier, is closest to Home's consumption point in autarky? O(9 movies, 950 books). O (18 movies, 900 books). (32 movies, 740 books). (50 movies, 0 books). O This cannot be determined from the information given.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter13: General Equilibrium And Welfare

Section: Chapter Questions

Problem 13.3P

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