Say that Alland can produce 32 units of food per person per year or 16 units of
ID: 1096979 • Letter: S
Question
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can produce 36 units of food per year or 18 units of clothing. Which of the following is true?
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Some nations that seek to produce all of their own needs face the problem that:
they will not be able to satisfy the wants of all of their c
Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or 4 apples an hour. The opportunity cost of producing 1 orange for Alpha and Beta, respectively, are:
2 apples; 4 apples
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Alternate Outputs from One Day's Labor Input:
USA: 12 bushels of wheat or 3 yards of textiles.
India: 3 bushels of wheat or 12 yards of textiles.
The opportunity cost of one bushel of wheat in India is:
itizens.
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Georgeland has an absolute but not a comparative advantage in producing clothing.Explanation / Answer
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can produce 36 units of food per year or 18 units of clothing. Which of the following is true?
Some nations that seek to produce all of their own needs face the problem that:
Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or 4 apples an hour. The opportunity cost of producing 1 orange for Alpha and Beta, respectively, are:
Answer: c 0.5 apples; 0.25 apples.
USA: 12 bushels of wheat or 3 yards of textiles.
India: 3 bushels of wheat or 12 yards of textiles.
The opportunity cost of one bushel of wheat in India is:
Answer: 4 yards of textiles.
Answer: A: Georgeland has an absolute but not a comparative advantage in producing clothing.Related Questions
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