If a country is producing 6 coconuts and 4 fish, and they want to increase coconut production to 8. What is the opportunity cost of doing s

Q: American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons…

A: A country has comparative advantage in production of a commodity if it can produce the commodity at…

Q: Consider the PPF of a country with movies on the horizontal axis and computers on the vertical axis.…

A: Production Possibility Frontier shows different possible combination of two goods that can be…

Q: Per Winter Hat   US $10.00   Russia 5,000 Rubles  Per Bushel of Wheat   US $1.00  Russia 2,500…

A: The opportunity cost  of moving from one economical combination of production to a different…

Q: Can both free trade and free flows of foreign direct investment (FDI) will always make everyone…

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Q: Explain how each of the following situations would affect the nations possibility curve.   (iv) A…

A: Production possibility frontier (PPF) or national possibility curve is a locus of all the points…

Q: Suppose that Costa Rican worker Carlos can produce either 150 pounds of coffee or 1 computer per…

A: Given information Three workers=Carlos, Maria, Pedro Carlos produces 1 computer= 150 pounds coffee…

Q: Kenji and Lucia are farmers. Each one owns a 20-acre plot of land. The following produce per year on…

A: The international trade theories of absolute advantage and comparative advantage emphasize why free…

Q: e. Is it possible for USA to gain by trading with Thailand? Explain. f. Is it possible for Thailand…

A: Theory of comparative advantage states that a country should produce those goods where it has lower…

Q: a. Using data in the table, graph the ppf (with carpet on the vertical axis) b. What happens to the…

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Q: has an absolute advantage in the production of barley, and has an absolute advantage in the…

A: Absolute advantage implies that producer can produce a particular good or service in higher quantity…

Q: On the PPF above, the economy is currently at point B. How can the economy produce at point E? A. By…

A: Some useful concepts PPF : it shows different combinations of two goods that can be produced by…

Q: reasons for the PPF to shift

A: Since you have asked multiple questions, we will answer the first question for you.   Production…

Q: has an absolute advantage in the production of barley, and has an absolute advantage in the…

A: Van has absolute advantage in production of barley. because van can produce 40 bushels per acre…

Q: Before the first Gulf War, Kuwait had the capacity to produce a certain amount of oil from its oil…

A: A production possibility frontier (PPF) is a curve which demonstrates various combinations of…

Q: Mexico can cultivate either 120 bushels of Oranges per acre or 200 bushels of Bananas per acre. What…

A: Opportunity cost refers to the value of something that must be given up to get the other goods and…

Q: Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can…

A: Comparative advantage is based on opportunity cost. Absolute advantage is based on the number of…

Q: Explain how each of the following situations would affect a nation’s production possibilities curve…

A: The production of a country depends directly on the nation's supply of the electricity.

Q: Sara and Fran produce boards and sails for windsurfing. The tables show their production…

A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity…

Q: Use the table to answer the question:   Corn (lb) Scarves(#) U.S. 20 10 Mexico 25 5 What is the…

A: Opportunity costs represent the potential benefits a personal, investor, or business misses out on…

Q: what accounts for the shape of the PPC? In other words, what is it about the relationship between…

A: The production possibility frontier (PPF) is a curve on a graph that delineates the potential…

Q: Jimmy and Robert are stranded on a deserted island.  Robert can catch 10 fish in a day or pick 15…

A: Comparative advantage refers to the production of a good with the least opportunity relative to…

Q: State three reasons for the PPF to shift to the right or left.

A: Production possibility frontier illustrates the combinations of quantity of two goods that can be…

Q: Describe how each of the following would affect Bangladesh PPF using relevant graph: a) more job…

A: Production possibility frontier shows the different possible combination of inputs that gives the…

Q: In Country T, it takes 10 resources to produce 1 ton of cocoa and 13.5 resources to produce 1 ton of…

A: It might be argued that if countries used the concept of comparative advantage to choose what…

Q: Assume our standard model. In any hour, Andreas can knit 5 scarves or 2 hats. In any hour, Katya can…

A: Answer: Introduction: Comparative advantage: if a person has the least opportunity cost of producing…

Q: Give a specific example of what would cause the PPF to shift outward.     Give a specific example…

A: Production possibility frontier is also known as production possibility curve or production…

Q: Looking at the production possibility curve, it can be noticed that Zimbabwe's production of oil and…

A: A production possibility curve that refects different combinations of output that can be produced…

Q: John and Jack run a car washing business. In one week John can wash 36 cars or he can wax 20 cars.…

A: Wash  Wax John 36 20 Jack 24 12 In a week , John can wash and wax more number of cars as…

Q: Please explain the roles of Production Possibility Curve in any economic system applied by any…

A: With a production possibility frontier or curve, the economic problem of scarcity and choice can be…

Q: Under What circumstances the PPF would shift outward?

A: In economics, PPF stands for production possibility curve that provide information about the…

Q: PPF 16 14 Without Trade 12 10 8 With Trade 6. 4. 2 50 100 150 200 250 300 350 400 Wheat (millions of…

A: The value of the next best alternative foregone is known as opportunity cost. Mexico: It can either…

Q: The solid line represent current PPF while the dashed line represents a country's desired PPF.…

A: PPF or the production possibility frontier is the locus of all the combinations of two goods or…

Q: Brazil is able to produce 10 cars and 5 computers in one hour while India is able to produce 1 car…

A: Comparative advantage refers that it is a tool which is used for calculate the optimal use of two…

Q: What ways that a country could shift its production possibilities curve to the right through…

A: The production possibility curve refers to the curve which shows various combinations of two goods…

Q: In one hour, Sue can produce 70 caps or 21 jackets and Tessa can produce 50 caps or 25 jackets. Who…

A: Opportunity cost is the benefit lost while making a different decision. You must compare the…

Q: The opportunity cost on a Production Possibilities Frontier in moving from one point to another can…

A: Production possibility frontier: - it is the graphical representation of different combinations of…

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.