12. Use the production possibility curve (PPC) to answer the question. If Zambia is currently on PPC1, then point------will be an efficient use of resources, while point-----will be unattainable. Production possibility Curve for Zambia 2000 PPCL 1800 1050 55 65 85 Honey a) Е, В b) С, D c) A, F d) D, C Milk

12. Use the production possibility curve (PPC) to answer the question. If Zambia is currently on PPC1, then point------will be an efficient use of resources, while point-----will be unattainable. Production possibility Curve for Zambia 2000 PPCL 1800 1050 55 65 85 Honey a) Е, В b) С, D c) A, F d) D, C Milk

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 2SCQ: Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40...

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Similar questions

Look at Exercise 33.2. Compute the opportunity costs of producing sweaters and wine in both France and Tunisia. Who has the lowest opportunity cost of producing sweaters and who has the lowest opportunity cost of producing wine? Explain what it means to have a lower opportunity cost.
Are differences in geography behind the differences in absolute advantages?
Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the absolute advantage in producing autos? What is the opportunity cost of producing one pound of beef In Brazil? What is the opportunity cost of producing one pound of beef in the United States?
How does comparative advantage lead to gains from trade?
In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios. Who has the absolute advantage in the production of rubber or radios? How can you tell? Calculate the opportunity cost of producing 80 additional radios in Japan and in Malaysia. (Your calculation may involve fractions, which is fine,) Which country has a comparative advantage in the production of radios? Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has a comparative advantage in producing rubber? In this example, does each country have an absolute advantage and a comparative advantage in the same good? In what product should Japan specialize? In what product should Malaysia specialize?