Olivia and Tara are sisters, whose parents requie them to do four hous of househoid chores per week. Both children can pertorm two chons waking the famly dog and watering the houshod pan The following describe each child's productivity Production per Hour of Work of Dog Was of Plants Watered Chid Ovia Tara 2 4 Please answer each of the folowing questions, indicating the question numbers in your answer Which child, if any, has abeolute advantage in dog walks? Which child if any has absolute advantage in watering plante? (Olvia, Tara, Both, Nether) has absolute advantage in deg walks (Olivia. Tara, Both Neither has abeolute advantage in watering plants
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- Hacmillan Leaming Christine and Paul are deciding how to split their time between writing music and lyrics for their new album. Their PPF's for 72 h of work are shown. Christine and Paul have to write music for 8 songs and lyrics for 12 songs (4 songs already have music). When they are done, they can go to a private island and relax from all their hard work. It is possible that they will use more than 72 h. Once they start writing lyrics and music, assuming their hired help packs for them and their plane is waiting outside their door, in how many hours can they board the plane to their relaxing island getaway? Christine will write music for Paul will write music for Christine will write lyrics for Paul will write lyrics for h songs. songs. songs. songs. Music written (in # of songs) 1 0 Paul's PPF 1 Christine's PPF 2 Lyrics written (in # of songs))Rafael's PPF Naomi's PPF 30 30 25 25 20 20 A 15 15 10 10 A 5 10 15 20 25 30 10 15 20 25 Rackets Rackets Refer to the diagrams above. Suppose that before trading, Rafael and Naomi had been producing at point A on their respective PPF. Then suppose they choose to specialize and trade. After specializing they trade 8 Rackets for 8 Balls. After this trade, Rafael will consume and Select one: а. 20 Rackets; 8 Balls b. 8 Rackets; 8 Balls C. 8 Rackets; 12 Balls d. 12 Rackets; 8 Balls Balls Balls 304.4 how am i supposed to show this, are there going to be two lines crossing over eachother?
- Eric and Ginny are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley (Bushels per acre) (Bushels per acre) Eric 20 4 Ginny 28 On the following graph, use the blue line (circle symbol) to plot Eric's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Ginny's PPF. 200 180 Eric's PPF 160 140 120 Ginny's PPF 100 80 60 40 BARLEY (Bushels)Juanita is a talented artist who sells hand-crafted goods on her website. Juanita currently crafts and sells both tea towels and pillows. She spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of her time is spent on each good. Hours Crafting Produced Choice (Tea towels) (Pillows) (Tea towels) (Pillows) A 0 4 0 B 2 3 10 4 2 16 6 1 19 0 20 PILLOWS C D E 30 25 On the following graph, use the blue points (circle symbol) to plot Juanita's initial production possibilities frontier (PPF). 20 2 10 5 0 D 8 6 4 1 NO 2 8 + 2 3 4 TEA TOWELS 5 8 7 Initial PPF 4 New PPF Suppose Juanita is currently using combination D, producing one tea towel per day. Her opportunity cost of producing a second tea towel per day is per day. Now, suppose Juanita is currently using combination C, producing two tea towels per day. Her opportunity cost of producing a third tea towel per day per day. isTable 1 Minnie Hats Umbrellas Mickey 50 40 10 5 Table 1 shows the output per week of two people, Minnie and Mickey. They can either devote their time to making hats or making umbrellas. 1) Refer to Table 1. Which of the following statements is true? A) Mickey has an absolute advantage in making both products. B) Minnie has an absolute advantage in making both products. C) Minnie has an absolute advantage in making hats and Mickey in making umbrellas. D) Minnie has an absolute advantage in making umbrellas and Mickey in making hats. 2) Refer to Table 1. What is Minnie's opportunity cost of making a hat? A) 1/5 of an umbrella B) 1/4 of an umbrella C) 4 umbrellas D) 10 umbrellas 3) Refer to Table 1. What is Mickey's opportunity cost of making a hat? A) 1/10 of an umbrella B) 1/5 of an umbrella C) 5 umbrellas D) 10 umbrellas 4) Refer to Table 1. Which of the following statements is true? A) Minnie has a comparative advantage in making both products. B) Mickey has a comparative advantage in…
- Olivia and Helen produce shirts and ties. The figure shows their PPF s . A graph with ties on the x-axis from 0 to 30 in 5-unit increments and shirts on the y-axis from 0 to 30 in 5-unit increments. There is a downward-sloping line labeled PPF subscript Helen. The line starts at the y-intercept of 25 shirts and ends at the x-intercept of 15 ties. There is another downward-sloping line labeled PPF subscript Olivia. The line starts at the y-intercept of 15 shirts and ends at the x-intercept of 20 ties. These two lines intersect at a point corresponding to 6.8 shirts and 10.9 ties.051015202530051015202530TiesShirts PPF Subscript OliviaPPFOlivia PPF Subscript HelenPPFHelen A graph with ties on the x-axis from 0 to 30 in 5-unit increments and shirts on the y-axis from 0 to 30 in 5-unit increments. There is a downward-sloping line labeled PPF subscript Helen. The line starts at the y-intercept of 25 shirts and ends at the x-intercept of 15 ties. There is another…estion 20 of 20 > Vincent and Jean are two cooks who work in a village. Each of them can either bake cakes or make pizzas. Every ingredient is readily available to them, and the only scarce resource is the cooks' time. Vincent can bake 10 cakes or make 5 pizzas in an hour. Jean can bake 12 cakes or make 8 pizzas in an hour. Please answer the four questions. 1. Which cook has the absolute advantage in baking 2. Which cook has the absolute advantage in making cakes? pizzas? ONeither O Vincent O Jean O Jean O Vincent O Neither 3. Which cook has the comparative advantage in baking 4. Which cook has the comparative advantage in making cakes? pizzas? Unit 7- Chapter 1..xlsx 0 Unit 7-Chapter 1...xlsx Topic 2 (2).docx Topic 2 (1).docx Show all 11:10 PM 73 F EENG 12/8/2021 ins prt sc f12 delete COLI dn 6d 6J 144 I14 backspace unu lock of enter H. pause T shift pua alt ctrlSuppose earlier they used to decide half of their in producing Apple pies and remaining half in producing Cupcakes. Now they have decided to "specialize" in accordance to their comparative advantages. Then in a work week that consists of 5 work days, the output of Apple pies and cupcakes will increase by the amount of b C Quantity of Apple Pies d 100 40 PPFDavid Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. 30 Apple pies and 100 Cupcakes respectively 200 Quantity of Cupcakes 200 Apple pies and 350 Cupcakes respectively PPFAlexis 150 Apple ples and 500 Cupcakes respectively 400 250 Apple pies and 100 Cupcakes respectively
- Macmillan Learn Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. Potato Chips 50 45 40 35 30 25 20 15 10 Incorrect 5 O 0 5 10 15 20 25 30 Computer Chips 35 40 Ned's PPP 45 50 What is the opportunity cost of potato chip production in terms of computer chips? 4/3 0 0 0 1/2 50 25 2 3/4Consider two individuals, Fred and Barney. In one hour, Fred can produceeither 15 gallons of beer, or 3 gallons of wine. In one hour, Barney can produce2 gallons of beer or 4 gallons of wine. Assume both goods can be produced incontinuous quantities. Assume that each person wants to consume 3 gallons of wine, then as muchbeer as they can. Determine what each person will end up consumingi) when they cannot trade.ii) when they can trade at a price of 1gallon wine = 2 gallons beer.Use this to explain why trade benefits both consumers.Eleanor and her little brother Josh are responsible for two chores on their family’s farm, gathering eggs and collecting milk. Eleanor can gather 10 dozen eggs or collect 5 gallons of milk per week. Josh can gather 2 dozen eggs or collect 2 gallons of milk per week.a. The family wants 2 gallons of milk per week and as many eggs as the siblings can gather. Currently, they collect one gallon of milk each and as many eggs as they can. How many dozens of eggs does the family have per week? b. If the siblings were to specialized, which should collect the milk? c. If the siblings were to specialize, how many dozens of eggs would the family have per week? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.