Macroeconomics
Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
Question
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Chapter 2, Problem 20APA

(a)

To determine

Identify the comparative advantage in the production of snowboards and skis.

(b)

To determine

Identify the total gains from trade.

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Use the following table to answer the question below.     Dave's Production Possibilities Schedule Simon's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn Pounds of Green Beans Pounds of Corn 0 160 0 80 20 120 40 60 40 80 80 40 60 40 120 20 80 0 160 0   Dave's opportunity cost of producing 1 pound of corn is ______ pound(s) of green beans. Simon's opportunity cost of producing 1 pound of corn is ______ pound(s) of green beans. Multiple Choice   1, 2   2, 1/2   1/2, 2   2, 1
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