Consider a production possibilities frontier (PPF) for Japan in its scheduled Tokyo 2020 Summer Olympics (to take place in summer 2021). Given that Japanese government needs to expand its constructions and buildings for the event, its national PPF will tend to a. Remain constant b. Be a straight line c. Shift outward d. Shift inward

Consider a production possibilities frontier (PPF) for Japan in its scheduled Tokyo 2020 Summer Olympics (to take place in summer 2021). Given that Japanese government needs to expand its constructions and buildings for the event, its national PPF will tend to a. Remain constant b. Be a straight line c. Shift outward d. Shift inward

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.8P

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Assume our standard model. In any hour, Andreas can knit 5 scarves or 2 hats. In any hour, Katya can knit 6 scarves or 1 hats. What is the opportunity cost of knitting 100 hats (in terms of number of scarves) for the person with the comparative advantage in scarf production? Note: If neither has a comparative advantage, then we can say that both has a comparative advantage.
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