Question 13 0 out of 10 points Assume for Brazil that the opportunity cost of ea

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Question 13 0 out of 10 points Assume for Brazil that the opportunity cost of each cashew is 100 peanuts. Which of these pairs of points could be on Brazil's production possibilities frontier? Selected Answer (300 cashews, 60,000 peanut) and (200 cashews, 50,000 peanuts) (200 cashews, 30,000 peanuts) and (150 cashews, 35,000 peanuts) (200 cashews, 40,000 peanuts) and (150 cashews, 30,000 peanuts) (300 cashews, 60,000 peanut) and (200 cashews, 50,000 peanuts) (300 cashews, 60,000 peanuts) and (200 cashews, 80,000 peanuts) Answers: Question 14 0 out of 10 points Ken and Traci are two woodworkers who both make tables and chairs. In one month, Ken can make 3 tables or 18 chairs, whereas Traci can make 8 3tables or 24 chairs.Given this, we know that the opportunity cost of 1 chair is Selected Answer 1/6 table for Ken and 3 tables for Traci. 1/6 table for Ken and 1/3 table for Traci. 1/6 table for Ken and 3 tables for Traci. 6 tables for Ken and 1/3 table for Traci. 6 tables for Ken and 3 tables for Traci. Answers: Question 15 10 out of 10 points Figure 3-19

Explanation / Answer

1. If opportunity cost of one cashew is 100 peanuts. Then, opportunity cost of 50 cashew is (50)(100)= 5000 peanuts. Therefore, if Brazil is at point (200,30000) then, (150,35000) gives this opportunity cost. Hence, option(A) is correct .

2. The opportunity cost of chairs for ken = 3/18 = 1/6 table.

And the opportunity cost of chairs for Tim= 8/24 = 1/3 tables

Hence, option(A) is correct.

3. Given the information, Traci has an absolute advantage in chairs , as she can produced more chairs i.e 24 with the given resources . Hence, option(C) is correct.

4. Japan’s opportunity cost of producing 1 airplane is 80/16 = 5 cars and Korea’s opportunity cost of producing one airplane is 48/16= 3 cars . Hence, Option(D) is correct.

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