Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Elijah and Aneesha are farmers. Each one owns an 18-acre plot of land. The following table shows the amount of zucchini and watermelon each farmer

Elijah and Aneesha are farmers. Each one owns an 18-acre plot of land. The following table shows the amount of zucchini and watermelon each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing zucchini or watermelon or to produce zucchini on some of the land and watermelon on the rest.

image text in transcribed
Elijah and Aneeshs are farmers. Each one owns an 18-acre plot of land. The following table shows the amount of zucchini and watermelon cach farmer can produce per year on a given acre. Each farmer chauses whether to devote all acres to producing zucchini or watermelon or to produce zucchini on some of the land and watermelon on the rest. Zucchini Watermelon (Pounds per acre] (Pounds per acre] Elijah 12 Aneesha 18 On the following graph, use the have one (erie gumball to pilot Fifish's production posthooks matter (FFF), and ass the purpie Me (almond (?) O 142 - 136 - 106 WATERMELON ( Pounds 00 ZUCCHINI ( Finds) has an absolute advantage in the production of zucchini, and has an absolute advantage in the production of watermelon. Elijah's opportunity cust of producing 1 pound of watermelon is pounds of zucchini, whereas Areacha's opportunity cost of producing I pound of watermelon is pounds of zucchini. Because Elijah has a opportunity cost of producing watermelon than Aneesha, 7 has a cumparative advantage in the product on of watermelon, and has a comparative advantage in the production of zucchini

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

OPEC Twenty Years And Beyond

Authors: Ragaei El Mallakh

1st Edition

1317244737, 9781317244738

More Books

Students also viewed these Economics questions

Question

Use ratios to assess profitability.

Answered: 1 week ago

Question

Describe the linkages between HRM and strategy formulation. page 80

Answered: 1 week ago