SECTION# NAME PRINT LAST NAME, FIRST NAME Use the graphs below to answer questions 7 through 10. PAM ALEX Cakes Cakes 10 9 Pies 10 Pies 6. 7. For Alex, the opportunity cost of 1 pie is cost of 1 pie is cake(s); for Pam, the opportunity cake(s). 2/3; 1 b. 2/3; 2 a. 12; 1 d. 1½; 2 Č. 8. For Alex, the opportunity cost of 1 cake is cost of 1 cake is pie(s); for Pam, the opportunity pie(s). 2/3; 1 b. 2/3; 2 a. 12; 1 C. d. 12; 2 Alex has a comparative advantage in 9. and Pam has a comparative advantage in cakes; pies pies; cakes a. cakes; cakes pies; pies C. If Alex and Pam specialize according to comparative advantage, their combined output will be: 10. 9 cakes and 10 pies. 19 cakes and 16 pies. a, 10 cakes and 6 pies. 15 cakes and 20 pies. C. b.
SECTION# NAME PRINT LAST NAME, FIRST NAME Use the graphs below to answer questions 7 through 10. PAM ALEX Cakes Cakes 10 9 Pies 10 Pies 6. 7. For Alex, the opportunity cost of 1 pie is cost of 1 pie is cake(s); for Pam, the opportunity cake(s). 2/3; 1 b. 2/3; 2 a. 12; 1 d. 1½; 2 Č. 8. For Alex, the opportunity cost of 1 cake is cost of 1 cake is pie(s); for Pam, the opportunity pie(s). 2/3; 1 b. 2/3; 2 a. 12; 1 C. d. 12; 2 Alex has a comparative advantage in 9. and Pam has a comparative advantage in cakes; pies pies; cakes a. cakes; cakes pies; pies C. If Alex and Pam specialize according to comparative advantage, their combined output will be: 10. 9 cakes and 10 pies. 19 cakes and 16 pies. a, 10 cakes and 6 pies. 15 cakes and 20 pies. C. b.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter1: Ten Principles Of Economics
Section: Chapter Questions
Problem 2CQQ
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