Suppose that in an hour Chip can gather 8 pounds of fruit or 4 pounds of nuts. In an hour, Monk can gather 9 pounds of fruit or 3 pounds of nuts. Which of the following choices would benefit both Chip and Monk if trade occurred? Please choose the correct answer from the following choices, and then select the submit answer button. 1 pound of fruit for 2/5 pound of nuts 1 pound of fruit for 1 pound of nuts. 1 pound of fruit for 3/4 pound of nuts 1 pound of fruit for 1/10 pound of nuts
Suppose that in an hour Chip can gather 8 pounds of fruit or 4 pounds of nuts. In an hour, Monk can gather 9 pounds of fruit or 3 pounds of nuts. Which of the following choices would benefit both Chip and Monk if trade occurred? Please choose the correct answer from the following choices, and then select the submit answer button. 1 pound of fruit for 2/5 pound of nuts 1 pound of fruit for 1 pound of nuts. 1 pound of fruit for 3/4 pound of nuts 1 pound of fruit for 1/10 pound of nuts
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 8SQ
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Suppose that in an hour Chip can gather 8 pounds of fruit or 4 pounds of nuts. In an hour, Monk can gather 9 pounds of fruit or 3 pounds of nuts. Which of the following choices would benefit both Chip and Monk if trade occurred?
Please choose the correct answer from the following choices, and then select the submit answer button.1 pound of fruit for 2/5 pound of nuts
1 pound of fruit for 1 pound of nuts.
1 pound of fruit for 3/4 pound of nuts
1 pound of fruit for 1/10 pound of nuts
I dont understand the math breakdown for these types of trade question I realize Chip Fruit to nuts is 2:1 and Monk is 3:1 but that is where I dont undersand the further breakdown
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Publisher:
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