In question 24, Derryland will have 29 units of cheese and 3.5 units of bread after trading with Whetoria. Where is this combination of goods in relation to Derryland's PPF? Group of answer choices It is a point on Derryland's PPF. It is outside of Derryland's PPF. It is inside Derryland's PPF

In question 24, Derryland will have 29 units of cheese and 3.5 units of bread after trading with Whetoria. Where is this combination of goods in relation to Derryland's PPF? Group of answer choices It is a point on Derryland's PPF. It is outside of Derryland's PPF. It is inside Derryland's PPF

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 10RQ: Give the three reasons that explain why the division of labor increases an economys level of...

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Question

i need Q25 solution

Question 24

Refer to Table 1-1

Now that the countries have opened trade, would each country agree to a trade of 11 units of cheese (from Derryland to Whetonia) for 3.5 units of bread (from Whetonia to Derryland)?

Group of answer choices

Both countries would agree to this trade.

Derryland would agree, but Whetonia would not.

Whetonia would agree, but Derryland would not.

Neither country would agree to this trade.

Question 25

In question 24, Derryland will have 29 units of cheese and 3.5 units of bread after trading with Whetoria. Where is this combination of goods in relation to Derryland's PPF?

Group of answer choices

It is a point on Derryland's PPF.

It is outside of Derryland's PPF.

It is inside Derryland's PPF

Assume that Derryland and Whetonia can switch between producing cheese and
producing bread at a constant rate.
Table 1-1
Labor Hours Needed to Make Number of Units Produced in 40
1 Unit of
Hours
Cheese
Bread
Cheese
Bread
Derryland
1
4
40
10
Whetonia
8
20

Definition Definition Curve that represents the various combinations of production possibilities of two commodities when resources or factors of production are given.

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