hi I need help with my microeconomics homework. I am having trouble graphing the line for consumption at world price for 1 computer for 80kg of coffee and consumption at world price for 1 computer for 180kg of coffee as well as questions c to e
Safari File Edit View History Bookmarks Develop Window Help $ 1 7 Q 2 @ Mon Apr 19 6:48 PM ... laecon1.lyryx.com C its Ly Lab 12 (Question 1) ~ Lyryx Learning Inc Course Hero * Lab 12 (Question 1) _ Lyryx Learning Inc.pdf Question 1 [30 points] Two Canadian workers, Dan and Sarah, can each produce computers or coffee. Dan can produce either 120 kg of coffee or 1 computer per month. Sarah can produce either 50 kg of coffee or 1 computer per month. Note: Please be sure to be as accurate as possible and to round your answers to two decimal places. When plotting lines on the graph, select which line you want to plot from the drop down menu at the top of the graph. a) Plot Canada's production possibilities curve by plotting at least 3 points on the curve. Select which item you want to graph from the drop down menu at the top of the graph to manipulate that item. Consumption at World Price of 1 computer for 80 kg of coffee Canada's Production Possibilities Curve Consumption at World Price of 1 computer for 80 kg of coffee Consumption at World Price of 1 computer for 180 kg of coffee 360 320- 280- oduction to 240- our -- a deriv Coffee (kg) 2004 supply of la Ippc our market 160 tal -- conce 120 capital marl 0.5 1.5 2.5 Reset Computers pital and APR 19 . . . nment and 4 P IntSafari File Edit View History Bookmarks Develop Window Help $ 1 7 Q 2 @ Mon Apr 19 6:48 PM .. . O laecon1.lyryx.com C its Ly Lab 12 (Question 1) ~ Lyryx Learning Inc Course Hero * Lab 12 (Question 1) _ Lyryx Learning Inc.pdf b) How much of each good is produced if each worker specializes according to comparative advantage? Computers = Coffee = 120 Answer c) - e) assuming that world prices are such that 1 computer trades for 80 kg of coffee on international markets. c) If Canada is open to trade, show Canada's consumption possibilities on the graph above by plotting at least 2 points on the curve. Select which item you want to graph from the drop down menu at the top of the graph to manipulate that item. d) What is the most of each good that Canadians can consume when the economy is open? Computers = 0 Coffee = 0 e) How much more can Canadians consume when the economy is open as opposed to when it is closed? Computers = 0 Coffee = oduction to Answer f) - h) assuming that world prices are such that 1 computer trades for 180 kg of coffee on international markets. our -- a deriv f) If Canada is open to trade, show Canada's consumption possibilities on the graph above by plotting at least 2 points on the curve. Select which item you want to graph from the drop down menu at the top of the graph to manipulate that item. supply of lal our market g) What is the most of each good that Canadians can consume when the economy is open? tal -- conce Computers = 0 Coffee = capital marl h) How much more can Canadians consume when the economy is open as opposed to when it is closed? Computers = 0 Coffee = 0 pital and APR 19 . . . nment and 4 int
