In an hour mattew can wash 2 car and mow one lawn an Tyler can wash 3 cars and mow one lawn. who has the absulute advantage in car washing and who has the absolute advantage in lawn mowing
Q: Malaria can be controlled Other goods and services (millions of units) The World Health…
A: PPF refers to the possible combinations of two goods that can be produced with given level of…
Q: Dmitri and Jake are considering contributing toward the creation of a water fountain. Each can…
A: Compensation and benefits (C&B) is a sub-discipline of human resources responsible for…
Q: Elliot and Jordy find themselves on a deserted island. The only two activities available are fishing…
A: Comparative advantage is an individual's ability to produce a particular good or service at lower…
Q: Imagine that the society has two political parties, called the Hawks (who want a strong military)…
A: A production possibility frontier is the graphical representation of all the combinations of two…
Q: Deborah and Janet are roommates. They spend most of their time studying (of course), but they leave…
A: Two roommates, Deborah and Janet, making pizza and brewing root beer as their favorite activities.…
Q: Tina can allocate her 8-hour day between baking and cooking. Each hour devoted to baking yields 2…
A: First, we find the maximum quantity of cake and plates of food that can be produced using 8 hours.…
Q: 9. The following data show the combinations of output of cars and computers. mbination Computers…
A: The Production Possibilities Curve is a model being used for showing the tradeoffs being associated…
Q: Study Units Debate Units 12 11 10 9. 8. 1 William faces the production possibilities frontier…
A: (Note: Since the question has multiple parts the first three has been solved. Please resubmit the…
Q: Suppose you have midterms in economics and astronomy tomorrow, and you only have four hours left to…
A: When resources are limited, the production possibility frontier is a graph that depicts the various…
Q: Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the hwo…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Kelen and Chris produce rice and wheat. In an hour, Kelen can produce 1 unit of wheat or one unit of…
A: Absolute advantage is when a country can produce higher goods and services in absolute terms than…
Q: Tom Brady should pay someone else to mow his lawn instead of mowing it himself, unless a. Brady…
A: Answer: Correct option: (b) Explanation: Comparative advantage: when a person has the least…
Q: Use Production Possibility Frontier to discuss the idea of 'efficiency'.
A: Production possibility frontier refers to different combination of two commodities that can be…
Q: 1. Draw a production possibility curve (PPC) with the number of pounds of rice that can be produced…
A: Since you posted multiple questions, we will provide you the answer of first question. If you want…
Q: Martha and Dave like to make identical tacos and cakes. The time it takes Martha and Dave to make…
A: Absolute advantage refers to the person/company/society's capability of producing a given amount of…
Q: Imagine a country XYZ that produces only two goods—chairs and tables. Together, the chairs and…
A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…
Q: Labour hours needed to make 1 kilogram: Meat Kilograms produced in 12 hours: Potatoes 12 Potatoes…
A: According to absolute advantage theory, if a producer is more efficient in producing a good than…
Q: Most websites on the internet are usually becomes difficult to access, so it becomes a because they…
A: Club Goods are artificial scarce goods which are a type of public good. These are excludable but…
Q: A group of students raises money each year by selling souvenirs outsi de the stadium after a cricket…
A:
Q: Deborah and Janet are considering contributing toward the creation of a building mural. Each can…
A: Public good is not excludable and non-rivalry.
Q: Suppose that Ontario and Vermont each produce two goods, maple syrup (M) and hockey sticks (H). The…
A: Answer:- Q- Which region has an absolute advantage in maple syrup production? Which region has an…
Q: Carrot Apple 0 10 1 9 2 7 3 4 4 0 Using the table above, draw the PPF for Happyland. 1.Using the PPF…
A: Production possibilities frontier shows different combinations of two goods that can be produced…
Q: The following table describes the production possibilities of two cities in the country: City Pairs…
A: Absolute advantage refers to the situation where the country can produces the more number of goods…
Q: Perry's Production Possibilities Frontier 20 99 18+ 16- 14 12 10 8 novels Jordan's Production…
A: "A production possibility frontier also known as PPF or PPC reflects all the possible combinations…
Q: Let's say Mike and Johnson manufacture hamburgers and T-shirts. Johnson makes 7 hamburgers or 4…
A: The production possibilities curve (PPC) graph depicts all of the possible output combinations that…
Q: Envelopes (per hour) 200 160 Deb's PPF 120 Pete's PPF 80 40 40 80 120 160 200 Packets (per hour) Deb…
A:
Q: The four people listed below are the only workers In an economy that works 10 hours per day and only…
A: The production possibility frontier states and shows the number of inputs used or the amounts of two…
Q: Q2: There are two countries named Lilliput and Brobdingnag. We have the production possibilities…
A: The production possibility curve shows the combination of two goods that can be produced with the…
Q: . Steve can bake either 4 loaves of bread or 12 dozen cookies a day. Sarah can bake either 4 loaves…
A: Meaning of Production Possibility Frontier: The term production possibility frontier refers to the…
Q: Ice cream (millions of gallons per year) 5 A 3 3 5 Milk (millions of gallons per year) The figure…
A: Production possibility frontier: - it is the graphical representation of different combinations of…
Q: Match the good with it's best characterization. A. Open-access resource B. Private good C. Public…
A: Public goods are those goods which benefit all the people of society whether he is poor or rich.…
Q: 1. The maximum amount of steel or aluminum that Canada and France can produce if they use all the…
A: The production possibilities curve (PPC) is a chart that shows every one of the various…
Q: Table 1 Minnie Hats Umbrellas Mickey 50 40 10 Table 1 shows the output per week of two people,…
A: Here, it is given that Minnie and Mickey are producing hats and umbrellas in different quantities.
Q: In an hour, Mateo can wash 2 cars or mow 1 lawn,and Sophia can wash 3 cars or mow 1 lawn. Whohas the…
A: Production possibility frontier is a curve that shows the possibility of producing two goods for a…
Q: Tomatoes sìÒ Strawberries Strawberries Tomatoes (A) Graph A B) Graph B Refer to Figure 2-3. Carlos…
A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…
Q: Pedras is a small, isolated island in the Pacific. The inhabitants grow cherry tomatoes and catch…
A: Dear student, you have asked multiple sub-part questions in a single post and have not mentioned…
Q: Antonio and Caroline are farmers. Each one owns a 20-acre plot of land. The following table shows…
A: The ability of a country to produce a certain good more efficiently than the other country is…
Q: Tommy and Ariel are taking an English class and a Math class together. They are supposed to write…
A: Tommy and Ariel are taking an English class and a Math class together. They are supposed to write…
Q: Van and Amy are farmers. Each one owns a 12-acre plot of land. The following table shows the amount…
A: Van and Amy are farmers each having 12 acre plot of land. Both produces corn and rye in their plot.…
Q: 9. The following data show the combinations of output of cars and co computers. TIT Combination…
A: a.
Q: Ann and Bob are working on the kitchen. They can either bake cakes x or cook soups y or do some…
A: According to the question above, Ann and Bob are working on the kitchen. They can either bake…
Q: Beth and Eleanor are considering contributing toward the creation of a building mural. Each can…
A: since you have asked a multipart question and according to our policy we can solve the first 3 parts…
Q: Once again, In an hour, Mateo can wash 2 cars or mow 1 lawn, and Tyler can wash 3 cars or mow 1…
A: International economics is that branch of economics which study the economic interactions between…
Q: In an hour, Mateo can wash 2 cars or mow 1 lawn, and Tyler can wash 3 cars or mow 1 lawn. Who has an…
A: Answer - Absolute Advantage - The absolute advantage occure when one country can produce greater…
In an hour mattew can wash 2 car and mow one lawn an Tyler can wash 3 cars and mow one lawn. who has the absulute advantage in car washing and who has the absolute advantage in lawn mowing
Trending now
This is a popular solution!
Learn your way
Includes step-by-step video
Step by step
Solved in 3 steps
- France and Tunisia both have Mediterranean climates that are excellent for producing/harvesting green beans and tomatoes. In France it takes two hours for each worker to harvest green beans and two hours to harvest a tomato. Tunisian workers need only one hour to harvest the tomatoes but four hours to harvest green beans. Assume there are only two workers, one in each country, and each works 40 hours a week. Draw a production possibilities frontier for each country. Hint: Remember the production possibility frontier is the maximum that all workers can produce at a unit of time which, in this problem, is a week. Identify which country has the absolute advantage in green beans and which country has the absolute advantage in tomatoes. Identity which country has the comparative advantage. How much would France have to give up In terms of tomatoes to gain from trade? How much would it have to give up in terms of green beans?In an hour, Mateo can wash 2 cars or mow 1 lawn,and Sophia can wash 3 cars or mow 1 lawn. Whohas the absolute advantage in car washing, and whohas the absolute advantage in lawn mowing?a. Mateo in washing, Sophia in mowingb. Sophia in washing, Mateo in mowingc. Mateo in washing, neither in mowingd. Sophia in washing, neither in mowingIn an hour, Mateo can wash 2 cars or mow 1 lawn, and Tyler can wash 3 cars or mow 1 lawn. Who has an absolute advantage in car washing, and who has the absolute advantage in lawn mowing?
- Andrew and Beth can each spend 10 hours a day making bread or making shoes. Andrew makes 2 shoes an hour and Beth 3 shoes an hour. Andrew can bake 10 loaves an hour and Beth 9 loaves an hour. Who has the absolute advantage in making shoes? A (ndrew) or B (eth)?Once again, In an hour, Mateo can wash 2 cars or mow 1 lawn, and Tyler can wash 3 cars or mow 1 Lawn. Who has the comparive advantage in car washing and who has the camparative advantage in lawn mowing? a. Mateo in washing, Tyler in mowing b.Tyler in washing, Mateo in mowing. c. Mateo in washing, nither in mowing. d. Tyler in washing, neither in mowing.Wat's Production Possibilities Product A B C D E F Rice 750 600 450 300 150 0 Corn 0 50 100 150 200 250 Xat's Production Possibilities Product A B C D E F Rice 2,500 2,000 1,500 1,000 500 0 Corn 0 100 200 300 400 500 The hypothetical nations Wat and Xat have the production possibilities for rice and corn given in the accompanying tables. The mutually beneficial terms of trade will be Multiple Choice less than 2 units of rice for 1 unit of corn. greater than 4 units of rice for 1 unit of corn. between 3 and 5 units of corn for 1 unit of rice. between 3 and 5 units of rice for 1 unit of corn.
- Hubert, Manuel, and Shen are fishermen who live next to a lake that is open to fishing; in other words, anyone is free to use the lake for fishing. Assume that these men are the only three fishermen who fish in this lake and that the lake is large enough for all three fishermen to fish intensively at the same time. Each year, the fishermen choose independently how many fish to catch; specifically, they choose whether to fish intensively (that is, to place several fishing lines in the water for long periods of time, which hurts the sustainability of the lake if enough people do it) or to fish nonintensively (which does not hurt the sustainability of the lake). None of them has the ability to control how much the others fish, and each fisherman cares only about his own profitability and not about the state of the lake. Assume that as long as no more than one fisherman fishes intensively, there are enough fish to restock the lake. However, if two or more fish intensively, the lake will…Antonio and Caroline 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) Antonio 40 8 Caroline 28 7 ___________has an absolute advantage in the production of alfalfa, and __________ has an absolute advantage in the production of barley. Antonio's opportunity cost of producing 1 bushel of barley is ____ bushels of alfalfa, whereas Caroline's opportunity cost of producing 1 bushel of barley is______ bushels of alfalfa. Because Antonio has a ______ opportunity cost of producing barley than Caroline,________ has a comparative advantage in the production of barley and_______ has a comparative advantage in the production of alfalfa.The following table describes the production possibilities of two cities in the country: CityPairs of Red Socks perWorker per HourPairs of White Socksper Worker per HourBoston 3 3Chicago 2 1 City Pairs of Red Socks per Worker per Hour Pairs of White Socks per Worker per Hour Boston 3 3 Chicago 2 1 a. Which city has an absolute advantage in the production of each color sock? Which city has acomparative advantage in the production of each color sock?b. If the cities trade with each other, which color sock will each export?c. What is the range of prices at which trade can occur? year price of milk quantity of milk price of honey quantity of honey 2016 $1 100 quarts $2 50 quarts 2017 1 200 2 100 2018 2 200 4 100 a) Compute nominal GDP, real GDP, and the GDP deflator for each year, using 2016 as thebase year. b) Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2017 and 2018 from the preceding year. For each year, identify the variable…
- 6. Given that Nathan has 10 acres and can grow 15 bales of hay or 40 bushels of corn on anacre, while Simon has 10 acres and can grow 20 bales of hay or 35 bushels of corn per acre a. What is the maximum amount of corn and hay that they can jointly produce?b. Does Nathan have a comparative advantage in growing hay?c. Does Simon have an absolute advantage in growing hay?d. What is the opportunity cost to Nathan of one bale of hay?1. Holland and Aruba can produce ipads and sketch pads. The table below outlines the production possibilities for each producer. Producers/Goods Ipads Computers Holland 6 2 Aruba 10 5 Who has the absolute advantage in producing ipads?Production Advantage and Opportunity CostsAssume there are two countries, the United States and France, and two goods, automobiles andcomputers.The table presented below shows the number of automobiles and computers that the United States andFrance can produce with the same amount of resources.United States FranceAutomobiles 120 100Computers 60 55Source: Pearson Education Inc. 1.1 Which country has an absolute advantage in computer production? Motivate your answer.1.2 Which country has a comparative advantage in the production of automobiles? Motivateyour answer. 1.3 Assume these countries trade with one another under the conditions of free trade. Whichcountry will specialise in the production of automobiles? Motivate your answer. 1.4 If free trade exists between the United States and France, what are the highest and lowestlevels for the price of an automobile (expressed in terms of computers)? Motivate youranswer by stating which level favours the United States and France.