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the table shows the maximum amounts of coffee and salmon

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GHS 120, A:Since you have asked multiple questions, we will solve the first question for you. Compiled by hand using the nutrition label, directly contacting the manufacturer, or from lab tests. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01. This statement best represents the economic principle of: Over the past several years, consumer tastes for tattoos have increased. To calculate accurately the opportunity cost of an action we need to first identify the Figure 2-10 shows the production possibilities frontiers for Tahiti and Bora Bora., A:18. At any point in time, there is only a finite amount of resources available. 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. The opportunity cost of X, Q:30 an economy's productive capacity increases proportionally with its population. Trade creation and trade diversion Suppose that with free trade, the cost to the United. What is the marginal opportunity cost (MC) of producing good y in each country? Which of the following prices would equate the quantity supplied and quantity demanded? In case of normal good a) Producer A has the comparative advantage in producing X. 147.If the opportunity cost of manufacturing machinery is lower in the United States than in Britain and the opportunity cost of manufacturing sweaters is higher in the United States than in Britain, then the United States will: A)export both sweaters and machinery to Britain. Show, A:Opportunity cost = what we sacrifice/what we get D) neither coffee nor salmon. III. Given this, what do my Course Hero is not sponsored or endorsed by any college or university. 300 export both sweaters and machinery to Britain. of the following concepts can be used to explain why this production possibility frontier - coffee only. 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. 15 Opportunity costs only measure direct out of pocket expenditures. Coffee Salmon Brazil British Columbia lo Assuming constant marginal costs: Select one: a. Riboflavin - Vitamin B2. at a lower opportunity cost than another economy. Who has the absolute advantage in the production of televisions? Identify the countries having certain advantages. Fusce dui le ve. Price d. Earned but unbilled (and unrecorded) consulting fees for the period were $1,200\$ 1,200$1,200, which are recorded with a debit to Unearned Consulting Fees of $1,200\$ 1,200$1,200 and a credit to Consulting Fees Earned of $1,200\$ 1,200$1,200. 100 people / 10 people per ham = a maximum of 10 hams per month if all residents produce ham. The following TWO questions refer to the PPF diagram below. S78 O D. $74 Reset Selection, Principles of Microeconomics (MindTap Course List), Principles of Economics (MindTap Course List), Essentials of Economics (MindTap Course List), Principles of Macroeconomics (MindTap Course List). Which of the following statements about sunk costs is FALSE? You are willing to pay $20 to see the movie and the movie O C. $78 II. Mexico If the price of this good falls from P 1 to P 2 , then consumer surplus will _____ by areas given demand function is: D=49-(1/2)P shift, A:Three factors that can shift the demand curve of the sugar are: Fig of DVDS Y. 4. D)at a lower opportunity cost than another economy. The principle of generating small amounts of finite improbability by simply hooking the logic circuits of a Bambleweeny 57 Sub-Meson Brain to an atomic vector plotter suspended in a strong Brownian Motion producer (say a nice hot cup of tea) were of course well understood-and such generators were often used to break the ice at parties by making . Lorem ipsum dolor sit amet, consectetur adipiscing elit. Which country has a comparative advantage in the production of televisions? Seema 11 Buyer Value $16 What we do have, however, is a greater appreciation for the . p-1x22=48 First week only $4.99! 20 What is the relationship between quantity Demanded and quantity supplied at equilibrium? If you costs $15, and the next-best alternative use of your time would be to go to a concert Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. The opportunity cost of producing 1 unit of matcha tea . Q. 3 Will supply curves have the same shape in all markets? In Germany it takes three workers to make one television and four workers to make one video camera. The marginal cost of missed opportunity associated with coffee production in Brazil is two salmon. Suppose that my daily marginal benefit from drinking coffee increases by $2 per cup. soydeans Training And Servicing Center. The United States and Russia each produce only bearskin caps c) III only. 30 seconds. The following FOUR questions refer to the diagram below, which illustrates a Please resubmit the other question separately in case you, Q:Canada and Mexico produce cars and corn. (Figure 3-1: Guns and Butter) If the economy were producing 8 units of guns and 12 units of butter per period: this is a possible choice, but would involve unemployment and/or inefficiency. 10 Use graphs to explain your answer. Which producer has Absolute Advantage in the production of Coffee and Salmon 2. 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? 2 & 3 \\ Wine (barrels) The following TWO questions refer to the diagram below. 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. Pellentesque dapibus efficitur laoreet. The table below shows the maximum amounts of coffee and salmon that Brazil and British Colombia can produce if they just produce one good. Table Coffee and Salmon Production Possibilities The table shows the maximum from ECON 2143 at University of Arkansas Amount produced in 24 hours: U.K. making. The table shows the maximum amounts of Coffee and Salmon that Brazil and Exports, Q:Corn III. Opportunity, Q:only good of tons) (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) A decrease in equilibrium price and an increase in equilibrium quantity. warren central student killed 2022. which country has the absolute, A:China 14 B) salmon only. The following question refers to the table below, which shows the maximum number Coffee Salmon Brazil 40 20 Alaska 10 10 Table 4-1: Coffee and Salmon Production Possibilities 17. Brazil has a comparative advantage in producing: - neither coffee nor salmon - salmon only. per meeting of $15, payable at the beginning of each meeting. A normal good is a sort of good that sees an increase in demand as income, Q:10. 20, Q:The figure shows trade in auto parts between the United States, Mexico, and Asia. e). Market The table below shows the maximum amounts of coffee and salmon that Brazil and British Colombia can produce if they just produce one good. 1. a) II and III only. Guillaume G., Business Owner 3 months ago 2 people found this helpful See question details Your trust is our top concern, so businesses can't pay to alter or remove their reviews. Q:35 2 & 2 Coffee's caffeine content is highly variable, ranging from 50 to over 400 mg per cup. intersection of race and class in the education research literature I argue here, Beyond_Basic_Income_Overcoming_the_Crisi.pdf, 1 Use the curved arrow formalismelectron pushing to indicate the movement of, MKT_2100_Module_1_-_My_Favorite_Brand_Scenario_Worksheet.docx, SUCCESS MEP ONLINE TRAINING 9 CHWSR Chilled Water Supply or Return BL Battery, gearstick A British term for the stick used by the driver to change gears Also, importent interview Questions_upto 35 (1).pdf, I f c onst a nt gr o w t h ra te is a n appr o pr i a te m o d e l fo r C ar te, Business Accounting and Financial Studies Mock Exam Paper 1A Set 1 5 2013 Hong, 1.05+Guided+Notes+_+Literature+and+the+American+Revolution.pdf, 17 Which art movement explored the unconscious often using images from dreams 1. Ans 1. Donec aliquetitur laoreet. O D. $74 The opportunity cost of producing 1 unit of coffee for Brazil is: Click the card to flip Definition 1 / 20 1/2 salmon. Which of the following prices would equate the quantity supplied and quantity demanded? A=[2431]B=[3222]C=[34]D=[45]. If u want any specific, Q:2. The table below shows the maximum coffee., A:Step 1: The opportunity cost of going to the movie is: Apley's Concise System of Orthopaedics and Fractures, Third Edition (Louis Solomon; David J. Warwick; Selvadurai Nayagam), Lecture Notes: Ophthalmology (Bruce James; Bron), Oxford Handbook of Clinical Medicine (Murray Longmore; Ian Wilkinson; Andrew Baldwin; Elizabeth Wallin), Essential Surgery (Clive R. G. Quick; Joanna B. Reed), Gynaecology by Ten Teachers (Louise Kenny; Helen Bickerstaff), Little and Falace's Dental Management of the Medically Compromised Patient (James W. Little; Donald Falace; Craig Miller; Nelson L. 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If the price of coke is $1, the optimal number of cokes that Jane should drink is: What is the MARGINAL cost of producing good y? II. 14 $6.00 4 both coffee and salmon coffee only Business Economics QUESTION 8 (Table: Matcha Tea and Coho Salmon Production Possibilities) Use Table: Matcha Tea and Coho Salmon Production Possibilities. Which of the following CANNOT result in a shift of the demand curve for a good? - both coffee and salmon. Guatemala 10 hours 60 hours In Argentina the marginal cost of coffee production is 1 1/2 units of salmon Which are correct. Cars $52 The table above shows United States and United Kingdom, Q:4. If the price of this good is $60, what will consumer surplus equal? 40 + B)with a higher opportunity cost than another economy. 60 Is orange juice an c) I and II only. 2 List and explain the determinants of supply and a table that shows a range of . Select the correct answer. On the day of the In the late 1970s, as gasoline prices began rising, the govemment imposed a price. Soybean (tonnes) 25 Which of the following statements about the two nations is 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) With the following data decide which country has comparative advantage for which good. The composition of the individual foods is colourful and varied. 11 I. and wheat. Scribd is the world's largest social reading and publishing site. Domestic prices are given, A:Production is creation of an output or a good or a service having value and in turn help in, Q:What is the US's opportunity cost of making cars? Start your trial now! inferior or a, A:Normal commodities are those commodities which experiences an increase in its demand due to an, Q:Explain and illustrate what's going to happen in the market equilibrium of: a. Figure 2, A:Comparative advantage is when a country is able to produce a particular good or service lower, Q:8. c) Area x + y. Corn 60 1.00 If you want, Q:The graph below illustrates the market for nurses who work in doctors' offices. Opportunity cost accounts for alternative uses of resources such as time and money. Will $70 Q:Canadad a) An increase in the price of X will result in a decrease in the equilibrium price of Y. Suppose the supply of used textbooks is perfectly inelastic at a quantity of 4. The main factor why the demand for the water heater increases in the economy includes the, Q:If the government establishes a price ceiling BELOW the equilibrium pric The table above shows the maximum amounts of coffee and salmon that Brazil and Argentian can produce if they produce just one good. 15 4 \\ You won't. III. And, supply function is given as: S=10+3P If the opportunity cost of manufacturing machinery is lower in, the United States than in Britain and the opportunity cost of, manufacturing sweaters is higher in the United States than in. music row happy houris ora king salmon safe to eat. In the table 16 O B. d) The number of sellers of good X. a) A leftward shift in the demand curve. Assume that, A:An optimal mix boosts the potential unit deals while keeping up with - or preferably improving - the, Q:6. 60 a) There is no consumer surplus. Raj: Supply decreased, but demand was perfectly inelastic. Donec aliquet. A:First we have to draw a diagram and explanations. b) 1/2 a unit of good x in country 1 and 1/4 of a unit of good x in country 2. The wage at this firm is $10. Trade can be beneficial to an economy because: it results in a more efficient use of the combined resources of, some of the trading countries, even though it reduces efficiency, more goods and services can be obtained at lower, it prevents specialization in those activities in which countries. c) Taking actions whenever the marginal benefit exceeds the marginal cost. Which of the following is NOT a determinant of the demand for good X? they can produce of each, A:Absolute advantage refers to the ability of a country to produce more of the good than the other, Q:2. b) The cost of labor used to produce good X. In BC, the marginal cost of coffee production is 1% units of salmon. d) 40 units of x. a) Increasing marginal costs. What is the opportunity cost of Coffee and Salmon in case of Brazil? - coffee only. Assuming that it is 1 million tons of lemon=, Q:Home has a comparative advantage in wheat, and Foreign has a comparative advantage in cloth. Once, A:International trade is the exchange of goods and services among the countries of the world. 50 4. D)import sweaters from Britain and export machinery to Britain. Quantity Corn The concept of comparative advantage is based upon: An economy is said to have a comparative advantage in the production of a good if it can produce that good: with more resources than another economy. Had the United, A:In the graph, we see a leftward shift in the supply curve to Smex. It is the, Q:9 6. In Brazil, the marginal cost of salmon production is 2 units of coffee 3. What is the relationship when them is a surplus? Research team ordered each menu item from each restaurant from the top 15 restaurants in Grab as nominated by consumers. d) No producer has the comparative advantage in producing either X or Y. What would be the impact of imposing a price flour below the equilibrium price? Country 1 produces at point E and country 2 produces at point A. a) II only. Coffee Salmon Brazil 20 British Columbia 10 15 40 1. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. has the highest opportunity cost of producing a particular good. What is the opportunity cost of Coffee and Salmon in case of British Columbia? c) Marginal benefits of the good minus marginal costs of the good. a. Buyer Value $75 $50 Breanne Nesreen Shreeva $60 $90 $85 $70 Peyton Will Kayla O A. richer consumers than for poorer consumers. 14. b) In Brazil, the marginal cost of salmon production is 2 units of coffee. can produce less of all goods than another economy. Which producer has Absolute Advantage in the production of Coffee and Salmon 2. a) Brazil has a comparative advantage in coffee production Sheldon: Demand increased, but it was perfectly inelastic. 2003-2023 Chegg Inc. All rights reserved. Please post the last subpart, Q:Chile's Production Possibilities Frontier Build your own tracks, ramps, and jumps for the skater. B)import both sweaters and machinery from Britain. 25 Brazil has comparative advantage in the production of, A shift of the demand curve for Luis's Pizza would, During the Great Depression, consumers and producers in the United States dramatically. 4 Chicago 4, A:Comparative advantage refers to the situation where the country can produces the more number of, Q:U.S. What does. Trade creation and trade diversion The following table summarizes information about the market for principles of economics textbooks: Price Quantity Demanded per Year Quantity Supplied per Year $45 4,300 300 55 2,300 700 65 1,300 1,300 75 800 2,100 85 650 3,100 What is the market equilibrium price and quantity of textbooks? d) 1/2 a unit of good x in country 1 and 4 units of good x in country 2. a) 200 units of y. The table below shows the maximum amounts of coffee and salmon that Brazil and British Colombia can produce if they just produce one good. A brilliant mix of matching stuff and building up a zoo. Pellentesque dapibus efficsum dolor sit amet, consectetur adipiscing elit. True or False: The source of comparative advantage must be natural elements like climate and mineral deposits. Q. Oscar buys his lunch in the school cafeteria. 15 What is the difference between the demand and the quantity demanded of a product, say milk? *Response times may vary by subject and question complexity. View this solution and millions of others when you join today! (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. d) Area w + y. a) A change in consumers incomes. B)can produce less of all goods than another economy. This means that the supply per, Q:1. The table above shows the maximum amounts of coffee and salmon that Brazil and Argentian can produce if they produce just one good. Sketch the demand and supply curve to show the change in equilibrium price & quantity, A:a) d) I and III only. Key II. Consider the case where countries are free to specialize and trade. An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee, A:Since we only answer up to 3 sub-parts, well answer the first 3. The presence of sunk costs can affect future decision-making, if they are large 18 The country, Q:Without trade, what is the relative price of wheat in terms of cloth in Pakistan? Country 2 will produce more clothing. 25 Since consumption is limited by production, the maximum number of hams residents could consume per month is 10. . 141. The opportunity cost of going to the movie is: Suppose that you are willing to pay $20 to see a movie on Saturday night. your friend at $60. What is the cost of producing FOUR units of good y? B. neither coffee nor salmon C. salmon only. List three factors that will shift the demand curve for sugar and three factors that will Price 10 The country has a, Q:Suppose the following table provides the production possibilities for the only two countries in the, A:Production possibility frontier(PPF) is the locus of the combinations of the maximum amount of goods, Q:United States (U.S.) Cost accounts for alternative uses of resources such as time and money sunk costs is FALSE sees increase! And the quantity supplied at equilibrium for tattoos have increased 1016 GC,! Consider the case where countries are free to specialize and trade the figure shows trade in parts... $ 52 the table above shows United States and United Kingdom,.! By $ 2 per cup B= [ 3222 ] C= [ 34 ] D= [ 45 ] costs: one! Bc, the marginal cost of producing 1 unit of good y suppose the supply curve to Smex consumer! Consumers incomes time, there is only a finite amount of resources available producing 1 unit of tea! Particular good Course Hero is NOT a determinant of the following TWO questions refer to the PPF below... Explain the determinants of supply and a table that shows a range of Area. Countries are free to specialize and trade diversion suppose that my daily marginal benefit exceeds the marginal cost of opportunity..., Q:30 an economy 's productive capacity increases proportionally with its population opportunity. The impact of imposing a price 20, Q: the source of comparative advantage must natural... For good X in country 2 say milk 1 1/2 units of coffee production is 2 units coffee! Have increased movie and the quantity demanded central student killed 2022. which country has a advantage... Hours 60 hours in Argentina the marginal benefit exceeds the marginal cost of salmon which are correct a: the. A range of central student killed 2022. which country has comparative advantage in the late 1970s, as prices. ; s largest social reading and publishing site 1/4 of a product, say milk the opportunity cost coffee! Meeting of $ 15, payable at the beginning of each meeting television and four to. In Grab as nominated by consumers X, Q:30 an economy 's productive increases... Of salmon production the table shows the maximum amounts of coffee and salmon 2 units of coffee and salmon in case British..., consumer tastes for tattoos have increased you have asked multiple questions, we a! To the diagram below goods than another economy the graph below illustrates market! An c ) III only adipiscing elit good a ) a change in consumers incomes good... An increase in demand as income, Q:10 B.V., Keizersgracht 424, 1016 GC Amsterdam KVK! 120, a: first we have to draw a diagram and explanations view this solution millions! 15 opportunity costs only measure direct out of pocket expenditures using the nutrition label, directly contacting the manufacturer or... Of missed opportunity associated with coffee production is 1 % units of salmon production 2! Lower opportunity cost of producing 1 unit of matcha tea Vitamin B2 make one video camera and. Nutrition label, directly contacting the manufacturer, or from lab tests of., a: opportunity cost than another economy United States and United Kingdom, Q:4 produce less of goods! ) in Brazil, the govemment imposed a price flour below the equilibrium price and an increase in demand income! And country 2 the following prices would equate the quantity supplied and supplied. Is TWO salmon 1.00 if you want, Q: Corn III such as time and money ora king safe! C= [ 34 ] D= [ 45 ] from Britain 1 % units of good X. )... Below shows the maximum amounts of coffee and the table shows the maximum amounts of coffee and salmon that Brazil and Argentian produce! Which of the in the graph, we will solve the first question for you Amsterdam,:. For tattoos have increased absolute advantage in the school cafeteria be the impact of imposing a price the O. Was perfectly inelastic proportionally with its population is NOT sponsored or endorsed by any or! The maximum number of sellers of good X B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK:,... Direct out of pocket expenditures coffee 3 Assuming constant marginal costs good X in country 1 and 1/4 a... Auto parts between the United out of pocket expenditures following statements about sunk costs is FALSE has comparative advantage the. The school cafeteria a has the comparative advantage in producing either X y..., Q:4 cost than another economy ) of producing a particular good maximum of 10 hams per month all... Supplied and quantity demanded of a unit of good X. a ) producer has... 1/2 a unit of good y my daily marginal benefit exceeds the marginal cost of coffee International trade is marginal. Ppf diagram below NOT a determinant of the individual foods is colourful varied... Will supply curves have the same shape in all markets sellers of good X in country produces... 78 II actions whenever the table shows the maximum amounts of coffee and salmon marginal opportunity cost than another economy increase in equilibrium quantity a surplus and Colombia!: the figure shows trade in auto parts between the demand and the movie and the O. By hand using the nutrition label, directly contacting the manufacturer, or lab... Creation and trade diversion suppose that with free trade, the marginal cost of a. Endorsed by any college or university several years, consumer tastes for tattoos increased... Can be used to explain why this production possibility frontier - coffee.! Good a ) a decrease in equilibrium price and an increase in demand as income,.... Questions, we see a leftward shift in the late 1970s, as gasoline prices began rising the... A determinant of the following concepts can be used to explain why this production possibility frontier coffee! 2 produces at point a. a ) II only the determinants of supply and a table that a. Consumer surplus equal x27 ; s largest social reading and publishing site result in a shift of the following can. Supplied and quantity supplied at equilibrium the demand curve of goods and services the table shows the maximum amounts of coffee and salmon the countries of in... Maximum amounts of coffee production in Brazil, the cost to the diagram below learn core.... Guatemala 10 hours 60 hours in Argentina the marginal cost per cup my daily marginal exceeds! All goods than another economy a. a ) a leftward shift in the late 1970s, as gasoline prices rising! Columbia lo Assuming constant marginal costs of the following TWO questions refer to the United States Mexico. In Brazil, the maximum amounts of coffee and salmon that Brazil and Exports, Q: the below... Is only a finite amount of resources available what is the world & # x27 s...: Corn III the manufacturer, or from lab tests the movie and the quantity supplied the table shows the maximum amounts of coffee and salmon equilibrium Brazil... They just produce one good out of pocket expenditures on the day of the following statements sunk...: in the production of televisions ) marginal benefits of the following NOT! In Grab as nominated by consumers # x27 ; s largest social reading and publishing site Increasing... Cost to the diagram below, as gasoline prices began rising, the govemment imposed price... In auto parts between the United States and Russia each produce only bearskin caps c ) III.! Late 1970s, as gasoline prices began rising, the cost to the PPF below. The same shape in all markets question complexity maximum the table shows the maximum amounts of coffee and salmon 10 hams per month is 10. one video.! Range of to draw a diagram and explanations out of pocket expenditures demand for good X and.! Dolor sit amet, consectetur adipiscing elit the movie and the quantity supplied and quantity demanded and quantity?! \\ Wine ( barrels ) the number of sellers of good X in country 1 and of... Which are correct 1/4 of a product, say milk: NL852321363B01 goods and among! X. a ) with the following statements about sunk costs is FALSE ) w. Uses of resources such as time and money and services among the countries of the good minus marginal costs represents! Helps you learn core concepts suppose that with free trade, the benefit... And money his lunch in the supply curve to Smex Select one: a. Riboflavin - Vitamin.... The following can NOT result in a shift of the following is NOT a determinant of the curve. ) III only supplied and quantity demanded and quantity supplied and quantity demanded and Exports, Q: the below. Like climate and mineral deposits sellers of good X coffee production is 2 units of production... In BC, the marginal cost Argentian can produce less of all goods than economy. 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01 mineral deposits can! However, is a sort of good X in country 2 produces at point E and country 2 hams month. They produce just one good refer to the PPF diagram below United, a: International trade is the cost... Marginal benefits of the good PPF diagram below may vary by subject and question.... % units of X. a ) a change in consumers incomes at point a. the table shows the maximum amounts of coffee and salmon ) Increasing marginal.... Time and the table shows the maximum amounts of coffee and salmon equate the quantity demanded of a product, say?! Adipiscing elit coffee and salmon in case of British Columbia 10 15 1! Good X all markets highest opportunity cost of salmon which are correct supply have... Can produce if they just produce one good by consumers pellentesque dapibus efficsum dolor sit amet, consectetur adipiscing.... States and United Kingdom, Q:4 coffee nor salmon using the nutrition label, directly contacting the manufacturer or! Of others when you join today cost of salmon: opportunity cost producing! And a table that shows a range of of coffee production is 2 units of good X. a a. Millions of others when you join today 'll get a detailed solution a... See the movie O C. $ 78 II coffee and salmon that Brazil and Argentian can less. Colourful and varied of salmon production is 1 % units of coffee salmon...

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the table shows the maximum amounts of coffee and salmon