.   The countries France and Italy produce Perfumes and Leather Coats using only labor as an input. AvailableLabor for France and Italy is 3000 and 1000 respectively. Unit of labor per Leather Coat in France is 6 units and inItaly are 2 units. France needs 2 units of labors to produce 1 bottle of Perfume and Italy needs 4 unit of labor.     a)  Draw the Production Possibility Curve by using relevant information.   b)  Which country has the comparative advantage in producing Perfume?

Q: 9. A nation with fixed quantities of resources is able to produce any of the following combinations…

A: A production possibility frontier illustrates the possible combinations of two goods that can be…

Q: If each person specialized according to comparative advantage and later decides to move 4 units of…

A: To calculate the specialization of each person, we can simply calculate the productivity ratios of…

Q: Suppose there are two countries Peru and Japan that produces 7,523 units ofFood or 17,853 units of…

A: Hello, thank you for the question. Since there are multiple questions posted under a single thread,…

Q: any point under the production possibility frontier represent. O unemployment O inflation O growth O…

A: Production possibility frontier represents various points of production that are possible to produce…

Q: loe Cream the amounts of ice cream and pies that Tim and Dave can make in a given weekend. Use this…

A: Given information: *Dave produce 3 pies and 2 ice cream. *Tim produce 5 pies and 3 ice cream.

Q: Alex and Henry are completing group work for class. The input table below gives the time that it…

A: Comparative advantage is determined by comparing the opportunity cost. Opportunity cost is the…

Q: Assume that Huang and Min can switch between producing parašols and producing porcelain plates at a…

A: Absolute Advantage is when an individual or a country can produce more of a specific good that…

Q: The question is simple. Consider an economy with just one technique for production of each good:…

A: Production possibility curve Capital requirements per unit of food and cloth are 0.8 and 0.9,…

Q: 06 England 80 70 60 50 40 PPF 30 20 10 10 20 30 40 50 60 cloth wine

A: Opportunity cost=sacrifice/gain =10/10=1

Q: Assume that Andy and Henry, without trading with each other, will produce and consume the following…

A: Comparative advantage refers to the situation where one nation can produces more number of goods…

Q: 2. Assume a Ricardian, constant-cost world. There are two countries, the United Kingdom and France.…

A: Absolute advantage refers to the situation where one party can produce the same amount of goods and…

Q: A country operates inside its production possibilities curve; this may be caused by O unemployment.…

A: A production possibility curve denotes the full employment level of output as the output produced…

Q: Figure 14.4 383.Figure 14.4 shows three possible shifts in the production possibilities frontier of…

A: The production possibility frontier (PPF) is a curve that is used to discover the mix of products…

Q: Capital goods (hundreds of thousands per year) 15 12 India 6 3 France PPFO PPF, PPF2 12 15…

A: Answer: A country that produces more capital goods currently will see a higher growth rate of both…

Q: There are two countries, NZ and AUS, which use the same technology for production of food and cloth.…

A: Answer d) In the Absence of trade, the equilibrium point is 1 Where the relative demand curve is…

Q: Differentiate absolute advantage from comparative advantage.  Explain how a country should…

A: a. Absolute advantage Vs Comparative advantage 1. Absolute advantage relates to a country's or…

Q: O scarcity O comparative advantage O marginal thinking

A: Shortage or scarcity is one of the critical ideas of financial matters. It implies that the interest…

Q: Figure: Blcycles and Radishes I Bicycles (per perlod) Bicycles (per perlod) Country A Country B IN…

A: Suppose, there are two goods in an economy, Good X and Good Y. The firm decides to produce Good X…

Q: The US and France each have 100 hours of labor to allocate between producing cheese and bread. With…

A:

Q: Sue George Lawns 18 Mowed Gardens Weeded This table shows the output per day of two gardeners, Sue…

A: Absolute advantage depends on the higher value of production absolute term, if a person or country…

Q: Chile's Production Possibilities Frontier Colombia's Production Possibilities Frontier 20 Totea 20…

A: The production possibilities curve (PPC): The curve shows different combinations of output that can…

Q: 90 England 90 Portugal 80 80 70 70 60 60 50 50 PPF 40 PPF 40 30 30 20 20 10 10 10 20 30 50 60 10 20…

A: Because Portugal has more mnhrs than England,It will have absolute advantage.

Q: 2. Given the following diagram of a production possibilities frontier for a country. Assume that…

A: The production possibility frontier (PPF) shows the combination of two goods that can be produced…

Q: 6. Trading under increasing opportunity costs The following graph shows the production possibilities…

A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…

Q: Maximum Feasible Hourly Producti on Rates for either Tablets or TVs Using All AvailableResources…

A: Comparative advantage refers to the situation where one party can produce the goods and services…

Q: ction levels for each product per worker/month (assume each country has a workforce for 15 workers):…

A: Opportunity cost is the renounced benefit that would have been gotten from a choice not picked. To…

Q: Table 3-5 Assume that England and Spain can switch between producing cheese and producing bread at a…

A: We will use the following information to find the answer. Spain requires 3 labor hours to make 1…

Q: scenario Production Advantage and Opportunity Costs Assume there are two countries, the United…

A: Absolute advantage refers to the ability of the country to produce more units of good than other…

Q: Assume that England and Spain can switch between producing cheese and producing bread at a constant…

A: To get the solution, we'll look at the following data.To create one unit of cheese in Spain, it…

Q: a) Draw a production possibilities curve (PP1). Label the horizontal axis Tools and the vertical…

A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the…

Q: Maria's PPF 00 200 300 400 500 600 700 800 900 1000 BARLEY (Bushels) is an absolute advantage in the…

A: Given that,   Barley Alfalfa  Kevin 10 5 Maria 40 8 Each one has 20 acre plot of land

Q: In Canada, one labour hour can produce 6 bagels or 24 chairs. In the United States, one labour hour…

A:

Q: and trade. Maximum of 2 sentences. c) Who has an absolute advantage in the refuelling the car and…

A: * ANSWER :-

Q: Suppose that in the United States, the opportunity cost of producing a motor engine is 4 auto…

A: Opportunity cost is the value of what you lose while picking somewhere between two decisions. Right…

Q: Country X is faced with the following output combinations for capital goods and consumer goods.…

A: Introduction Production possibility curve is a graphic representation of alternative production…

Q: Question 20 (Table) The table shows coffee and tea units produced for the United States and Japan.…

A: The comparative advantage is the main factor that determines the international trade in the economy.…

Q: Which country has an absolute advantage in the production of fruit? Which country has an absolute…

A: Hi, thank for the question. Since there are multiple sub-parts are posted, we will answer first…

Q: . Suppose that the country of Greece has only one factor of production, labour, and can produce at…

A: Introduction The country Greece has only one factor of production; labor. Greece can produce olives…

Q: 3. Suppose that there are 10 million workers in Canada and that each of these workers can produce…

A: Opportunity Cost is defined as the benefit that is forgone or the benefit that could have been…

Q: O A. Production-possibilities curve will shift outward. B. Production-possibilities curve will shift…

A: The production possibility curve, abbreviated as PPC, depicts all of the performance combinations…

Q: You have a comparative advantage if you can complete a task: at a higher opportunity cost than…

A: Comparative advantage is when a producer is able to produce at a lower opportunity cost than any…

Q: There is now also another country, Foreign, there is a labor force of 800. Foreign's unit labor…

A: Given  Total labor force of foreign =800 To produce 1 unit of watermelon, 5 unit of labor force is…

Q: I need help solving this problem in economics  Worker Wage Time to complete 1 unit Paneling Dry…

A: Introduction: Wage and salary, revenue earned from human labor Wages and salaries technically…

Q: 5 The doctrine of comparative advantage was first put forth by oved ut of Select one: O a John…

A: Comparative advantage theory identifies opportunity costs as a factor in analyzing the choice…

Q: 1. The diagram below refers to production possibility frontiers for a country that produces…

A: As wants and desires of the individuals in the economy are unlimited but the resources available to…

Q: A nation’s residents can allocate their scarce resources either to producing consumption goods or to…

A: Scarce Resources: Scarcity of resources occurs when the resources or means available to accomplish a…