i need Solution of 2b, 3a, and 3b Q2: There are two countries named Lilliput and Brobdingnag. We have theproduction possibilities tables for apples and bananas for both countries. Usethis data to fill in the blanks below.|Lilliput Production Possibilities:Brobdingnag Production Possibilities:Production AlternativesProduction AltermativesProduction (Ibs)ABCD EApplesBananasProduction(lbs)ApplesABCD75 60 45 30FE403224168.154812 16 20Bananas10 15 20 25la. Which country has absolute advantage in production of the following good?Please state the name of the country in front of each good. Bananas:Your answer1b. Which country has absolute advantage in production of the following good?Please state the name of the country in front of each good. Apples:Your answer2a. In Lilliput, the cost of producing: 1 apple is:bananas. 2a. In Lilliput, the cost of producing: 1 apple is:bananas.Your answer2b. In Lilliput, the cost of producing: 1 banana is:apples.Your answer3a. In Brobdingnag the cost of producing: 1 apple is:bananas.Your answer3b. In Brobdingnag the cost of producing: 1 banana is:apples.Your answer4. The cost of producing 1 apple is lower in thecountry.

Since you have asked only 2b, 3a, and 3b sub-parts of the question, we will solve that three…

Q2: There are two countries named Lilliput and Brobdingnag. We have the production possibilities tables for apples and bananas for both countries. Use this data to fill in the blanks below. | Brobdingnag Production Possibilities: Production Altermatives ABCDEF 75 60 45 30 15 0 10 15 20 25 Lilliput Production Possibilities: Production Alternatives Production (bs) A BCDEF 16 80 Production(Ibo) Apples Bananas 32 24 Apples Bananas 40 4 8. 12 16 20

Q2: There are two countries named Lilliput and Brobdingnag. We have the production possibilities tables for apples and bananas for both countries. Use this data to fill in the blanks below. | Brobdingnag Production Possibilities: Production Altermatives ABCDEF 75 60 45 30 15 0 10 15 20 25 Lilliput Production Possibilities: Production Alternatives Production (bs) A BCDEF 16 80 Production(Ibo) Apples Bananas 32 24 Apples Bananas 40 4 8. 12 16 20

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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