Production possibility curves for Glamis and Cawdor are illustrated below: 90 80 Fig Newtons PPC in Glamis Madeleines 120 Cawdor has an absolute advantage in madeleines. Fig Newtons PPC in Cawdor Madeleines 150

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Suppose an economyuses two resorces (labor and capital) to produce two goods (wheat and cloth). Captial is relativley more useful in prducing cloth, and labor ir relativley more useful in prducing wheat.  If the supply of cpatial falls by 10% and the suppy of labor increases by 10%, how will the PPF for wheat and cloth change?

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R Imagine that it costs $40 in the United States to produce one ton of soybeans and transport them to market, while it costs $30 in Brazil to produce one ton of soybeans and transport them to market Imagine that it costs $20,000 in the United States to produce one automobile and transport it to maket, while costs $10,000 in Brazil to produce one automobile and transport it to market. Which of the following four arrangements would be most efficient? (Hint: Derived OC from PPF (production) = 1/OC derived from costs to make ) a. The United States should produce everything, since it can produce both soybeans and automobiles better than Brazil can produce them. Ob. Brazil should specialize and produce only automobiles. The United States should specialize and produce only soybeans. Then the two countries should trade with each other. Brazil will send automobiles to the United States, while the United States sends soybeans to the Brazil. Oc. The United States should specialize and produce…

Country X is faced with the following output combinations for capital goods and consumer goods. Option A B CDE Consumer goods (in 10000) == E Complete parts a, b, c, and d. a. Graph the production possibilities curve for Country X with capital goods on the x-axis and consumer goods on the y-axis. ܡܐܐ J 2 o O Capital Goods 0 8000 16000 24000 32000 (0,22) (8,20) JA 4 B с Consumer Goods 220000 200000 160000 100000 0 (16,16) 16 P.O. Box 56480 Portland, OR 97238 (24, 10) D E (32,0) + 20 24 28 32 8 12 Capital goods (in 1000) b. Does the Law of Increasing Opportunity Costs hold for this example? Explain why or why not. c. As you move from point B to point C, what is the cost of one more consumer good?

Two neighboring island nations, Seychelles and Mauritius, produce iPad's, coffee, or a combination of both. Suppose that they each have 4 million labor hours available per week for production. The following table gives the amount of each product that can be produced using one hour of labor: Country Mauritius Seychelles Mauritius' opportunity cost of produing 1 iPad is iPads (per hour of labor) 12 of coffee. Therefore, 8 Initially, suppose Mauritius uses 1 million hours per week to produce iPads and 3 million hours per week to produce coffee, while Seycheles uses 3 million hours of labor per week to produce iPads and 1 million hours per week to produce coffee. Consequently, Mauritius produces 12 million iPads and 72 million pounds of coffee, and Seychelles produces 24 million iPads and 32 million pounds of coffee. Assume there are no other countries willing to trade with them. So, if Mauritius and Seychelles don't trade with each other, they can only consume what they can produce using…

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Is The combination of 30 pounds of coffee beans and 12 pounds of nuts per day unattainable, attainable and efficient or attainable and inefficient Provided to plot Krisha and Tom's PPC. Plot three points total: one point if they both pick only coffee beans, a second point if they both completely specialize according to their respective comparative advantage, and a third if both gather only nuts.