Potatoes (tons) e 100 200 300 480 500 Sausages (tons) O 250 tons 350 tons O 150 tons O 750 tons a. If the two countries decided to combine their resources, what is the maximum amount of potatoes the two countries could produce? 250 tons O 500 tons O 1,000 tons 750 tons 400 b. If the two countries decided to combine their resources, what is the maximum amount of sausages the two countries could produce? 350 300 c. If the two countries specialize and produce the good in which they have a comparative advantage. what is the maximum combination of potatoes and sausages they can produce together? 250 Sausages (tons) 150 128 O 750 tons of potatoes and 350 tons of sausages 500 tons of potatoes and 200 tons of sausages O 650 tons of potatoes and 450 tons of sausages 250 tons of potatoes and 150 tons of sausages d. Using the three combined amounts of production, graph the combined production possibilities frontier for Ireland and Scotland. Instructions: Use the tool provided "PPF" to plot the combined production possibilities frontier point by point (3 points total). Production Possibilities Frontier 200 150 90 68 30 100 8 50 Potatoes (tons) e 58 0 100 150 200 250 Sausages (tons) 200 168 128 88 48 8 100 200 300 400 500 600 700 800 900 Tools PPF
Potatoes (tons) e 100 200 300 480 500 Sausages (tons) O 250 tons 350 tons O 150 tons O 750 tons a. If the two countries decided to combine their resources, what is the maximum amount of potatoes the two countries could produce? 250 tons O 500 tons O 1,000 tons 750 tons 400 b. If the two countries decided to combine their resources, what is the maximum amount of sausages the two countries could produce? 350 300 c. If the two countries specialize and produce the good in which they have a comparative advantage. what is the maximum combination of potatoes and sausages they can produce together? 250 Sausages (tons) 150 128 O 750 tons of potatoes and 350 tons of sausages 500 tons of potatoes and 200 tons of sausages O 650 tons of potatoes and 450 tons of sausages 250 tons of potatoes and 150 tons of sausages d. Using the three combined amounts of production, graph the combined production possibilities frontier for Ireland and Scotland. Instructions: Use the tool provided "PPF" to plot the combined production possibilities frontier point by point (3 points total). Production Possibilities Frontier 200 150 90 68 30 100 8 50 Potatoes (tons) e 58 0 100 150 200 250 Sausages (tons) 200 168 128 88 48 8 100 200 300 400 500 600 700 800 900 Tools PPF
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 19RQ: What do economists mean when they refer to improvements in technology?
Related questions
Question
Transcribed Image Text:Potatoes
(tons)
8
100
200
300
400
500
Sausages (tons)
400
350
300
a. If the two countries decided to combine their resources, what is the maximum amount of potatoes the two countries could produce?
O 250 tons
O 500 tons
O 1,000 tons
750 tons
250
b. If the two countries decided to combine their resources, what is the maximum amount of sausages the two countries could
produce?
200
Sausages
(tons)
158
128
98
150
100
250 tons
350 tons
c. If the two countries specialize and produce the good in which they have a comparative advantage. what is the maximum
combination of potatoes and sausages they can produce together?
50
60
30
8
150 tons
750 tons
O 750 tons of potatoes and 350 tons of sausages
500 tons of potatoes and 200 tons of sausages
650 tons of potatoes and 450 tons of sausages
250 tons of potatoes and 150 tons of sausages
d. Using the three combined amounts of production, graph the combined production possibilities frontier for Ireland and Scotland.
Instructions: Use the tool provided "PPF" to plot the combined production possibilities frontier point by point (3 points total).
Potatoes
(tons)
8
50
0
100
150
200
250
Sausages
(tons)
208
160
120
80
48
8
Production Possibilities Frontier
100 200 300 400 500 600 700 800 900
Tools
PPF
Transcribed Image Text:Jorge and Allison produce sandwiches and salads. See their production schedules below.
Production Possibilities Schedules
Jorge
Sandwiches
8
3
0
Salads
0
2
4
Allison
Sandwiches
2
0
Salads
0
2
6
Instructions: Enter your answers as a whole number.
a. If Jorge produces all sandwiches and Allison produces all salads, what is total production?
8 sandwiches
6 salads
b. Suppose the terms of trade are 3 salads for 4 sandwiches. If Jorge trades 4 sandwiches for 3 salads, how many sandwiches and
salads will he be able to consume?
sandwich (es)
salad(s)
If Allison trades 3 salads for 4 sandwiches, how many sandwiches and salads will she be able to consume?
sandwich(es)
salad(s)
c. Compared to the situation where each individual did not specialize, what are the gains from trade?
Jorge gains
sandwich(es) and
salad(s).
Allison gains
sandwich(es) and
salad(s).
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax