Quantity Picked in One Hour Pounds of Apples Pounds of Strawberries Jake 4. Jill 10 10 Suppose Jake develops an improved strawberry picking machine that doubles his ability to pick strawberries. Draw Jake's new production possibilities curve that reflects this technology-driven economic growt Segment A Undo * Redo x Reset + Apples 18 18 14 12 10 2 Strawberries 10 12 14

Country JKL has a maximum of 50 labour(hours). The tab shows maximum quantity of wheat and cotton the Country produce with different labour (hours) used. Combination A B C D E F Corn 15 14 12 9 5 0 Wheat 0 2 4 6 8 10                 A) If Country JKL produces 8,000 kg of wheat and 5,000 kg cotton a week, does it face trade-off? Why? B) Suppose Country JKL has successfully brought in an adv technology that improves the production of cotton by 20% from its original combinations. Sketch a diagram that shows the changes of the PPC for Country JKL

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Assume that Pablo and Micah can switch between producing baseballs and producing bats at a constant rate. Labor Hours Needed Quantity Produced in 36 Hours to Make 1 bat bat baseball 1 baseball 36 Pablo 3 12 Micah 2 36 18 Refer to Table 3-8. At which of the following prices would both Pablo and Micah gain from trade with each other? O a 15 baseballs for 10 bats Ob. 15 baseballs for 6 bats Oc 15 baseballs for 3 bats Od Pablo and Micah could not both gain from trade with each other at any price.

Refer to the production possibility frontiers for two friends Frodo and Sam who can both produce Ice creams and Jelly beans. Frodo's maximum production of Ice creams is 500 with no Jelly beans, or 2,000 Jelly beans with no Ice creams. Sam's maximum production of Ice creams is 600 with no Jelly beans, or 1,200 Jelly beans with no Ice creams. ICE CREAMS ICE CREAMS 600 500 1200 JELLY BEANS 2000 JELLY BEANS Frodo' PPF Sam's PPF Answer briefly these TWO questions in the box space provided below. Part A: Assuming efficient production without trade, derive the maximum amount of Jelly beans that can be produced by Sam along with 300 Ice creams. Describe your steps in detail. Part B: Assume that Frodo and Sam agree to specialize in production and trade between themselves. Frodo offers 1,000 Jelly beans to Sam in exchange for 300 lce creams. Would Sam agree to this trade?

Question 4 There is now also another country, Foreign, there is a labor force of 800. Foreign's unit labor requirement in watermelon production is 5, while in kiwi production it is 1.   a) how many units of watermelon can be produced? when the labor in Foreign country only produce watermelon. b) how many units of kiwi can be produced? When all the labor in Foreign country only produce kiwi.  c) What is the opportunity cost of watermelon in terms of kiwi in Foreign country? d) Describe the pattern of trade. Home country should produce? Foreign country should produce? Why? e) Show that how both Home and Foreign country gain from trade.

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