Given that Nathan has 10 acres and can grow 15 bales of hay or 40 bushels of corn on an acre, while Simon has 10 acres and can grow 20 bales of hay or 35 bushels of corn per acre.
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- Given that Nathan has 10 acres and can grow 15 bales of hay or 40 bushels of corn on an acre, while Simon has 10 acres and can grow 20 bales of hay or 35 bushels of corn per acre.
I am trying to come up with the equations to find out the maximum amount of produce they can jointly produce.
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- Krisha can pick 4 pounds of coffee beans in an hour or gather 2 pounds of nuts. Tom can pick 2 pounds of coffee beans in an hour or gather 4 pounds of nuts. Each works 6 hours per day. Together, what is the maximum number of pounds of coffee beans the two can pick in a day? What is the maximum number of pounds of nuts the two can gather in a day? Maximum amount of coffee beans pounds per day Maximum amount of nuts pounds per day Now suppose Krisha and Tom were gathering the maximum number of pounds of nuts when they decided that they would like to begin picking 8 pounds of coffee beans per day. Who would pick the coffee beans? How many pounds of nuts would they still be able to gather? Would it be possible for Krisha and Tom in total to gather 26 pounds of nuts and pick 20 pounds of coffee beans each day? If so, how much of each good should each person pick? The combination of 30 pounds of coffee beans and 12 pounds of nuts per day is show Krisha and Tom's combined daily PPC.We have two individuals, A and B, who works 40 hours per week each. They each consume food and clothing. It takes each person 10 hours to set up the production of food, and thereafter it takes 1 hour per production of 1 unit of food. How many units of food can each person produce in 1 week?Assume that England and Spain can switch between producing cheese and producing bread at a constant Labor Hours Needed to Make 1 Unit of Number of Units Produced in 24 Hours Cheese Bread Cheese Bread England 2 3 12 8 Spain 3 6 8 4 Assume that England and Spain each has 24 labor hours available. If each country divides its time equally between the production of cheese and bread, then what will be the total production of Cheese and Bread? Check to see if the following combination of Chease and Bread could be produced in England. 6 units of cheese and 4 units of bread. 8 units of cheese and 3 units of bread.
- Scott and Cindy both produce only pizza and tacos. In one hour, Cindy can produce 20 pizzas or 40 tacos. In one hour, Scott can produce 40 pizzas or 50 tacos. Based on this information, the person specializing in the production of tacos is willing to sell 10 tacos in return for at least pizzas and the other person is willing to pay no more than pizzas for the 10 tacos. Enter numerical values, rounding to two decimal places, and do not enter fractions. For example, enter 23.00 or 43.12.Suppose that initially Denali uses 1 million hours of labor per week to produce pistachios and 3 million hours per week to produce chinos, while Sequoia uses 3 million hours of labor per week to produce pistachios and 1 million hours per week to produce chinos. As a result, Sequoia produces 24 million pounds of pistachios and 32 million pairs of chinos, and Denali produces 12 million pounds of pistachios and 72 million pairs of chinos. Assume there are no other countries willing to engage in trade, so, in the absence of trade between these two countries, each country consumes the amount of pistachios and chinos it produces. Sequoia's opportunity cost of producing 1 pound of pistachios is4 pairs of chinos, and Denali's opportunity cost of producing 1 pound of pistachios is2 pairs of chinos. Therefore,Sequoia has a comparative advantage in the production of pistachios, andDenali has a comparative advantage in the production of chinos. Suppose that each country…Paul, Ringo, and George have a business where they visit people's homes to mow lawns and wash cars. Paul can wash 6 cars or mow 3 lawns in one hour. Ringo can wash 3 cars or mow 3 lawns in one hour. George can wash 3 cars or mow 6 lawns in one hour. They each work 6 hours per day. If two of them wash cars and one mows lawns then at most they can wash cars and mow lawns. Enter whole numbers.
- Davis Florist has two employees, Anita and Jerome, and two tasks that need to be completed, floral arrangements and floral delivery. It takes Anita 30 minutes to finish one floral arrangement and 40 minutes to make a delivery. It takes Jerome 10 minutes to finish one floral arrangement and 30 minutes to make a delivery. Each worker works six hours per day. a. Suppose that, initially, both Jerome and Anita spend four hours each day doing floral arrangements and two hours each day doing deliveries. Now suppose they change their tasks, so that each individual does nothing but the task in which she or he has a comparative advantage. How many more floral arrangements and deliveries could they produce each day? ________ additional floral arrangements _________ additional deliveriesConsider a society consisting only of Helen, who allocates her time between sewing dresses and baking bread. Each hour she devotes to sewing dresses yields 4 dresses and each hour she devotes to baking bread yields 8 loaves of bread. Suppose that a sewing machine is introduced that enables Helen to sew 8 dresses per hour rather than only 4. If Helen works a total of 8 hours per day, draw her production possibility curves before and after the introduction of the sewing machine. Using the graph you drew in part a, indicate if the following points are attainable and/or efficient before and after the introduction of the sewing machine. 16 dresses per day, 48 loaves per day 24 dresses per day, 16 loaves per daySuppose that Robinson can produce 10 fish for every hour he devotes to fishing and 20 coconuts for every hour he devotes to gathering coconuts. Friday, on the other hand, produces 20 fish for every hour he devotes to fishing and 10 coconuts for every hour he devotes to gathering coconuts. Suppose that Robinson and Friday both want 60 pounds of fish and 60 pounds of coconuts per day. a. If they do not help each other, Robinson will have to work ____ hours while Friday will have to work ____ hours. b. Suppose they decide to work together in the most efficient way possible, then Robinson will work ____ hours while Friday will work ______ hours.
- Tim and Alyssa are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley (Bushels per acre) (Bushels per acre) Tim 20 4 Alyssa 28 7 On the following graph, use the blue line (circle symbol) to plot Tim's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Alyssa's PPF. ______ has an absolute advantage in the production of alfalfa, and_____ has an absolute advantage in the production of barley. Tim's opportunity cost of producing 1 bushel of barley is______ bushels of alfalfa, whereas Alyssa's opportunity cost of producing 1 bushel of barley is_____bushels of alfalfa. Because Tim has a _____ opportunity cost of producing barley than Alyssa,…Consider the production productivity matrix of two goods from the US and India: United States of America India Labor force 200 800 Labor per unit corn 8 50 Labor per unit automobile 10 40 Still using the matrix above, let us assume that in an autarkic economy, the US can produce and consume 8 units of corn and 11 units of automobile; India can produce and consume 14 units of corn and 7 units of auto mobile. After deciding to engage in international trade, both countries agreed to trade 15 units of corn and 12 units of automobiles. How many units of automobile should each country agree to trade with each other if India will gain nothing from the trade? Group of answer choices 17 13 15 12Consider the production productivity matrix of two goods from the US and India: United States of America India Labor force 200 800 Labor per unit corn 8 50 Labor per unit automobile 10 40 Still using the matrix above, let us assume that in an autarkic economy, the US can produce and consume 8 units of corn and 11 units of automobile; India can produce and consume 14 units of corn and 7 units of auto mobile. After deciding to engage in international trade, both countries agreed to trade 15 units of corn and 12 units of automobiles. 8. How many units of corn will the USA sell to gain from the trade? Group of answer choices 12 15 8 10 9. How many units of corn will the US gain from the trade? Group of answer choices 1 2 3 4 10. How many units of automobile will the US buy to gain from the trade? Group of answer choices 10 12 15 18 11. How many units of automobile should each country agree to trade with each other if India will gain nothing from the trade?…
