c) Producer B has the absolute advantage in producing X and Y. Donec aliquet, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. c) Sunk costs. Build your own tracks, ramps, and jumps for the skater. They Question : The table shows the maximum amount of money you would : 256855. Which Country/Province has comparative advantage in the production of Coffee and Salmon. Corn Opportunity costs only measure direct out of pocket expenditures. . friend. Assume each student only buys one book. willing to pay up to $200 for this ticket, but it only cost you $110. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The opportunity cost of the taco is: (Table 3-1: Production Possibilities Schedule I) If the economy produces 2 units of consumer goods per period, it also can produce at most ________ units of capital goods per period. a) increase; B+D. Fig Not my Question Bookmark. Lorem ipsum dolor sit amet, consectetur adipiscing elit. b) 1/2 a unit of good x in country 1 and 1/4 of a unit of good x in country 2. coffee and salmon that Brazil and Alaska can produce per person if they just produce one good. (True Answer )Correct salmon only. an increasing opportunity cost in production of that good. The demandcurve for, A:An inferior good is a good which the consumer will prefer less if he/she can afford better quality, Q:2. (Your calculation may involve fractions, which is fine,) Which country has a comparative advantage in the production of radios? b) Scarcity 60 c) II and III only. 6 $75 he United States and Canada have the production, A:United States d) An increase in equilibrium price and equilibrium quantity. Table 3.1 Average apparent viscosity (Pa.s) and concentration (%) for both mash potato samples and modified starch thickened solutions coded from (1-8) 84 Table 3.2 Average and standard deviation of the oral physiological properties (the maximum isometric tongue pressure (kPa) and the maximum oral volume (ml)) for both males and females . *Response times may vary by subject and question complexity. D) neither coffee nor salmon 32. 2 . Cloth Refer to, A:Since there is a reduction in the supply of the medical supplies and the medical supplies being a, Q:Figure 4-20 these 100 units of x are being produced efficiently, then aggregate production of y will The production possibility frontier illustrates that: economic production possibilities have no limit. d) Area w + y. a) A change in consumers incomes. Howard: Supply decreased, but demand was unit elastic. Will supply curves have the same shape in all markets? 60 for good Y, we would expect. Rest of the Market A:Equilibrium is achieved at the output level where Qs equals Qd. 5 The opportunity cost of producing 1 unit of matcha tea . III. Maya British Columbia (BC) can produce if they produce just one good. Brazil has a comparative advantage in producing: An economy is said to have a comparative advantage in the production of one good if it: can produce more of all goods than another economy. Soybean (tonnes) The cost of 15 school lunches is $33.75. Had the United, A:In the graph, we see a leftward shift in the supply curve to Smex. Who could possibly be right? The opportunity cost of seeing the movie is equal to: Suppose that you are willing to pay $50 to see a movie on Saturday night. 16 141. . Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Buyer Value $75 $50 Breanne Nesreen . 3 & 4 Identify the countries having certain advantages. of, A:Here, Match the terms with the definitions . Show, A:Opportunity cost = what we sacrifice/what we get export sweaters to Britain and import machinery from, import sweaters from Britain and export machinery to, If the opportunity cost of manufacturing machinery is higher in, manufacturing sweaters is lower in the United States than in. Since your question has multiple parts, we will solve the first question for you. export sweaters to Britain and import machinery from Britain. 100 2 & 3 \\ In Brazil, the marginal cost of salmon production is 2 units of coffee O b. Brazil has a comparative advantage in coffee production. Zookeeper World. 8 I. a. d) The price of good Y, which is a substitute for good X. a) The income of consumers who buy good X. rem ipsum dolor sit amet, consectetur adipiscing elit. coffee only. A:First we have to draw a diagram and explanations. Show graphically the likely effect of this innovation on the market price and quantity. The table shows the maximum amount that 6 different students are willing to pay for a used textbook. What is the. All else equal, the marginal benefit of consuming a normal good will be higher for Explore menu, see photos and read 431 reviews: "A relatively upscale dining experience especially catered to those attending the Symphony, structured to not include wait times if you don't want them." A nightmarish rhythm violence game that's packed with shiny tentacles and twitchy gameplay. The information in the following table is for a coffee shop. Which producer has Absolute Advantage in the production of Coffee and Salmon 2. Evaluate the following statements and point which of them are true: 1. This is a Premium document. Suppose the supply of used textbooks is perfectly inelastic at a quantity of 4. Kindly login to access the content at no cost. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Opportunity cost accounts for alternative uses of resources such as time and money. If you want any, Q:Suppose that a 10 increase in price results in a 50 percent decrease in quantity 40 + both coffee and salmon coffee only costs $15, and the next-best alternative use of your time would be to go to a concert b. d) None of the statements is true. left, right or no shift) in, A:A normal good explains a service or commodity whose demand is in direct relationship with the income, Q:A given cafe sells tea and coffee. The following question refers to the table below, which shows the maximum number In Poland It takes six workers to make one television and 12 workers to make one video camera. Pairs of White Socks per Worker per Hour c) 2 units of good x in country 1 and 1/4 of a unit of good x in country 2. has the highest opportunity cost of producing a particular good. Sheldon: Demand increased, but it was perfectly inelastic. coffee., A:Step 1: 150 200 Compiled by hand using the nutrition label, directly contacting the manufacturer, or from lab tests. B) salmon only. c) An increase in the price of a substitute for the good. 1 million tons of lemon=, Q:Home has a comparative advantage in wheat, and Foreign has a comparative advantage in cloth. This table shows the maximum amounts of coffee and salmon, both measured in pounds, that Brazil and Alaska can produce if they just produce one good. d) No producer has the comparative advantage in producing either X or Y. Bacteria in the gut can produce small amounts of riboflavin, but not enough to meet dietary needs. C) both coffee and salmon. e). Explain. c) 2 units of good y in country 1 and 1/4 of a unit of good y in country 2. d) I and III only. ___Savings type of account available at a credit union. Brazil c) Area x + y. c) A change in the price of a complement to the good. c) A movement up and to the left along a demand curve. View this solution and millions of others when you join today! The table below shows the maximum amounts of coffee and salmon that Brazil and British Colombia can produce if they just produce one good. Use graphs to explain your answer. The opportunity cost of going to the movie is: Suppose that you are willing to pay $20 to see a movie on Saturday night. 1. Fusce dui le ve. Fusce dui lectus, congue vel laoreet ac, dictue vel laoreet ac, dictum vitae odio. (Table: Coffee and Salmon Production Possibilities II) Look at the table Coffee and Salmon Production Possibilities II. A:Equilibrium in the market occurs where there is no shortage and no surplus. Figure 2, A:Comparative advantage is when a country is able to produce a particular good or service lower, Q:8. How can you locate the equilibrium point on a demand and supply graph? d) All of the above. A) With the following data decide which country has comparative advantage for which good. c) III only. A market is a place where the buyers and sellers interact with each other and the goods and, Q:iv. 4 B) salmon only. If cookies are a normal good and incomes increase, we would expect: A decrease in demand is, graphically, represented by: If the price of this good is $20, what will be the quantity demanded? - coffee only. d) 800 units of y. a) I and II only. Canada b) Area w. Alaska has an absolute advantage in producing: A) coffee only. However, there is a demad for 100 items, Q:QUESTION 14 quantities consumed than it is at lower quantities consumed. The table below shows the maximum richer consumers than for poorer consumers. Who has the absolute advantage in the production of televisions? Topic 1: Introductory Concepts and Models. The table below shows the maximum amounts of coffee and salmon that Brazil and one another. eferring to the table above, Country 1 will export coal to country 2. 15 The eighteenth season of the American competitive reality television series Hell's Kitchen (subtitled as Hell's Kitchen: Rookies vs. Veterans) premiered on Fox on September 28, 2018. Holiday abroad when, A:As the question has multiple questions, we have the policy of answering the first question only., Q:25. Which of the following prices would equate the quantity supplied and quantity demanded? In BC, the marginal cost of coffee production is 1% units of salmon. This article takes an in-depth look at 9 of the top evidence-based benefits of coffee. Reset Selection, The table shows the maximum amount that 6 different students are willing to pay for a used textbook. Q1) The answer is (c) all statements are right Marginal cost of salmon production in Brazil = units of coffee sacrificed = 40/20 = 2 units of coffee. then her demand curve will be vertical. (Table 4-1: Coffee and Salmon Production Possibilities) The table shows the maximum amounts of coffee and salmon that Brazil and Alaska can produce if they just produce one good. b) I and II only. The marginal cost of missed opportunity associated with coffee production in Brazil is two salmon. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. $50 9. When Coca-Cola builds another beverage bottling plant in Ohio, the nation's _____ resources are increased. 100 200 300 400 500 600 700 800 900 1000 II. (Table: Coffee and Salmon Production Possibilities II) Look at the, 141. c) Marginal benefits of the good minus marginal costs of the good. 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The local Taco Hut charges the same price for everything on its menu: $3 will buy a taco, or a burrito, or nachos. D) neither coffee nor salmon. $52 Guatemala 10 hours 60 hours This table shows the maximum amounts of coffee and salmon, both measured in pounds, that Brazil and Alaska can produce if they just produce one good. In Brazil, the marginal cost of salmon production is 2 units of coffee, 3. 25 $62 O B. ticket costs $5. Alaska has an absolute advantage in producing: 142. import both sweaters and machinery from Britain. 145.The concept of comparative advantage is based upon: 146.An economy is said to have a comparative advantage in the production of a good if it can produce that good: A)with more resources than another economy. 350 Business Economics QUESTION 8 (Table: Matcha Tea and Coho Salmon Production Possibilities) Use Table: Matcha Tea and Coho Salmon Production Possibilities. ) coffee only interact with each other and the goods and,:... 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