Assume that Aruba and Iceland can switch between producing coolers and producing radios at a constant rate. Aruba Iceland Labor Hours Needed to Make 1 Radio Cooler 2 O O d. 18 1 Refer to Table 3-3. Assume that Aruba and Iceland each has 80 labor hours available. If each country divides its time equally between the production of coolers and radios, then total production is O a. 18 coolers and 40 radios. O b. 60 coolers and 80 radios c. 60 coolers and 18 radios ders and 60 radios 5 4 ?

Assume that Aruba and Iceland can switch between producing coolers and producing radios at a constant rate. Aruba Iceland Labor Hours Needed to Make 1 Radio Cooler 2 O O d. 18 1 Refer to Table 3-3. Assume that Aruba and Iceland each has 80 labor hours available. If each country divides its time equally between the production of coolers and radios, then total production is O a. 18 coolers and 40 radios. O b. 60 coolers and 80 radios c. 60 coolers and 18 radios ders and 60 radios 5 4 ?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 6SCQ: Table 33.15 shows how the average costs of production for semiconductors (the chips In computer...

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Table 3-3 Assume that Aruba and Iceland can switch between producing coolers and producing radios at a constant rate. Aruba Iceland Labor Hours Needed to Make 1 Radio 5 4 Cooler 2 1 Refer to Table 3-3. Assume that Aruba and Iceland each has 80 labor hours available. If each country divides its time equally between the production of coolers and radios, then total production is 60 coolers and 80 radios. 18 coolers and 40 radios. 18 coolers and 60 radios. 60 coolers and 18 radios.
France and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a)Franceâ€™sopportunity cost of G in terms of units of C equals ______ ? b) Polandâ€™sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Polandâ€™scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because:
France and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a) Franceâ€™sopportunity cost of G in terms of units of C equals ______ ? b) Polandâ€™sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Polandâ€™scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because: 4.In the following problem, assume that the UK currency is the pound sterling (PST)and thecurrency in the restof the Europe is the euro (EUR). Suppose that thePST appreciates relative to the EUR. For the following parts, you will…
15. PLEASE ONLY C A firm can use three different production technologies, withcapital and labor requirements at each level of output as follows:TECHNOLOGY 1 TECHNOLOGY 2 TECHNOLOGY 3DailyOutputK L K L K L100 3 7 4 5 5 4150 3 10 4 7 5 5200 4 11 5 8 6 6250 5 13 6 10 7 8a. Suppose the firm is operating in a high-wage country, wherecapital cost is $100 per unit per day and labor cost is $80 perworker per day. For each level of output, which technologyis cheapest?b. Now suppose the firm is operating in a low-wage country,where capital cost is $100 per unit per day but labor cost isonly $40 per unit per day. For each level of output, whichtechnology is cheapest?c. Suppose the firm moves from a high-wage to a low-wagecountry but its level of output remains constant at 200 unitsper day. How will its total employment change?
15. A firm can use three different production technologies, withcapital and labor requirements at each level of output as follows:TECHNOLOGY 1 TECHNOLOGY 2 TECHNOLOGY 3DailyOutputK L K L K L100 3 7 4 5 5 4150 3 10 4 7 5 5200 4 11 5 8 6 6250 5 13 6 10 7 8a. Suppose the firm is operating in a high-wage country, wherecapital cost is $100 per unit per day and labor cost is $80 perworker per day. For each level of output, which technologyis cheapest?b. Now suppose the firm is operating in a low-wage country,where capital cost is $100 per unit per day but labor cost isonly $40 per unit per day. For each level of output, whichtechnology is cheapest?c. Suppose the firm moves from a high-wage to a low-wagecountry but its level of output remains constant at 200 units
What is the opportunity cost of increasing missle production fromm 50 to 100?
The nation of Ectenia has 20 competitive appleorchards, all of which sell apples at the world priceof $2 per apple. The following equations describethe production function and the marginal product oflabor in each orchard:100100 2 ,2 5 25 2Q L LMPL Lwhere Q is the number of apples produced in a day,L is the number of workers, and MPL is the marginalproduct of labor.a. What is each orchard’s labor demand as a functionof the daily wage W? What is the market’s labordemand?b. Ectenia has 200 workers who supply their laborinelastically. Solve for the wage W. How manyworkers does each orchard hire? How much profitdoes each orchard owner make?c. Calculate what happens to the income of workersand orchard owners if the world price doubles to$4 per apple.d. Now suppose that the price is back at $2 perapple but a hurricane destroys half the orchards.Calculate how the hurricane affects the income ofeach worker and of each remaining orchard owner.What happens to the income of Ectenia as a whole?
Suppose there are two countries Peru and Japan that produces 7,523 units ofFood or 17,853 units of Fuel using a labour force of 8000. Japan can produce 5,733 units of Food or 24,156 units of Fuel using a labour force of 5,000. a) On two seperate graphs sketch the initial PFF for the two countries with Food on the x-axis. b) If Japan and Peru employ half it workers to produce Fuel how much each good can consume? Label this point A and A* respectively. c) Which country has the absolute advantage in food? In fuel? Explain. d) Which country has the comparative advantage in food? In fuel? Explain. e) Which good(s) should each country specialized in?
Suppose you have a team of two workers: one is a baker and one is a chef. Explain why file kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert.
What is a production technology?
Assume that Pablo and Micah can switch between producing baseballs and producing bats at a constant rate. Labor Hours Needed Quantity Produced in 36 Hours to Make 1 bat bat baseball 1 baseball 36 Pablo 3 12 Micah 2 36 18 Refer to Table 3-8. At which of the following prices would both Pablo and Micah gain from trade with each other? O a 15 baseballs for 10 bats Ob. 15 baseballs for 6 bats Oc 15 baseballs for 3 bats Od Pablo and Micah could not both gain from trade with each other at any price.
202IG-ITBIUI-1252178 > ITB 101 - Final Exam > ITB Kontrol paneli Site ana sayfası Takvim Nişanlar Tüm dersler Course dashboard Soru 20 A graph that shows all the combinations of labor and capital that can be used to produce a Henüz given amount of output is called cevaplanmadı 4 üzerinden Lütfen birini seçin: işaretlenmiş O A. production curve P Soruyu işaretle O B. an average cost curve O C. an isoquant curve O D. an isocost line O E. an indifference curve ÖNCEKİ SAYFA SONRAKİ SAYFA Aramak için buraya yazın 立