You have decided to specialize in gathering firewood while Friday has specialized in fishing. Your time allocation sliders are set to allocate all of your time to gathering firewood. Now, use the additional sliders to state how many logs you will trade to Friday and how many fish you want in return. You must select a trade that make both you and Friday better off than you were before specialization and trading. In other words, you must both receive more than 2000 calories of fish and 32 logs of firewood. Both you and Friday’s consumption point is displayed on the PPF graphs as you adjust the trade.

Matt and Lin are two producers and consumers for lamps and beds. Each of them works 40 hours in a week. Hours required for Matt to produce one unit of lamps or beds are 1 hours or 10 hours, respectively. Hours required for Lin to produce one unit of lamps or beds are 2 hours or 8 hours, respectively. Assuming their PPFs are straight lines. Calculate the correct options that complete the following statements on Matt's PPF. A) If Matt produces only lamps, they can produce  ? unit(s) of lamps. If Matt produces only beds, they can produce ? unit(s) of beds B)  Calculate the correct options that complete the following statements on Lin's PPF. If Lin produces only lamps, they can produce  unit(s) of lamps. If Lin produces only beds, they can produce  unit(s) of beds. C)  What is the marginal opportunity cost of producing an extra unit of lamps for Matt? An extra unit of lamps costs  unit(s) of beds. D)  What is the marginal opportunity cost of producing an extra unit of lamps for Lin?…

If country A uses all of its resources efficiently, it can produce a maximum of 100 units of good X.  If country A uses all of its resources efficiently, it can produce a maximum of 150 units of good Y. If country B uses all of its resources efficiently, it can produce a maximum of 75 units of good X.  If country B uses all of its resources efficiently, it can produce a maximum of 125 units of good Y.  Both countries have (linear) straight line PPFs.    What is the opportunity cost of producing 10 units of X in country A?  (hint: your answer should be measured in the positive number of units of good Y that must be given up - round your answer to two decimal places only if necessary)

Suppose the fictional country of Olympia produces only two goods: rice and electric scooters. The following graph plots Olympia's current production possibilities frontier, and includes six different output combinations given by black points (plus symbols) labeled A to F. ELECTRIC SCOOTERS (Millions) 20 40 100 80 60 PPF 201 40 E + 60 B × 4 F 80 100 RICE (Millions of bushels) ?