Hi! I need help with these 6 questions. Please only answer if confident, these are easy if you know them. The "blue" marked selections are most likely marked wrong from first attempt, I have one more attempt. So please use the "blue" highlighted questions to your reference that they are prolly not the answer. Thanks!

33.

Use the following production possibilities frontier for a country to answer the following questions. Which point(s) are unattainable? Briey explain why. 3:: ,3 None of the points because they all are feasible. 3:, _3 All the points because the production of each has an opportunity cost. 3:: ,3 Point V because it is outside the production possibilities frontier. 3:: _3 Point 2 because it is inside the production possibilities frontier. 3:, ,3 Points W, X, and Y because they are on the production possibilities frontier. Capital goods PPF Consumption goods Suppose Iran and Iraq both produce oil and olive oil, which sell for the same prices in both countries. The following table shows combinations of both goods that each country can produce in a day, measured in thousands of barrels. Iran Iraq Oil Olive Oil 0 8 2 6 4 4 6 2 8 0 Oil 12 16 Olive Oil 16 12 8 4 O a. Who has the comparative advantage in producing oil? Iran has a comparative advantage producing oil because its opportunity cost of producing oil is lower. Iran has a comparative advantage producing oil because it can produce more oil. Neither country has a comparative advantage producing oil because their opportunity costs of producing oil are equal. Iraq has a comparative advantage producing oil because it can produce more oil. Iraq has a comparative advantage producing oil because its opportunity cost of producing oil is lower. % Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented in the table below. United States Mexico % Hamburgers (in tons) Tacos (in tons) Hamburgers (in tons) Tacos (in tons) O 54 O 30 20 36 4 20 40 18 8 10 60 O 12 O Which country has an absolute advantage in producing tacos? The United States . Which country has a comparative advantage in producing tacos? Mexico Suppose the United States is currently producing 40 tons of hamburgers and 18 tons of tacos and Mexico is currently producing 8 tons of hamburgers and 10 tons of tacos. If the United States and Mexico each specialize in producing only one good (the good for which each has a comparative advantage), then a total of additional ton(s) of hamburgers can be produced for the two countries combined (enter a numeric response using an integer) Your Production and Consumption After Trade 25 and Consumption After Trade q q Your Neighbor's Production 6' Q 20 D" Apples (pounds) 0 5 10 15 20 25 0 10 20 30 40 50 60 Cherries (pounds) Cherries (pounds) Your consumption point after trade is illustrated by point D. (Enter your response as a letter.) You have exams in economics and chemistry coming up and ve hours available for studying. The following table shows the trade-offs you face in allocating the time you will spend in studying each subject. Hours Spent Studying Midterm Score Choice Economics Chemistry Economics Chemistry A 5 0 97 70 B 4 1 95 79 C 3 2 92 85 D 2 3 87 90 E 1 4 82 92 F 0 5 76 94 a. Use the data in the table to draw a production possibilities frontier graph. 1.) Use the multipoint curve drawing tool to plot the production possibilities frontier curve. Plot points for all choices A through F. Properly label this curve. 2.) Use the point drawing tool to plot all choices A through F. Properly label these points. Carefully follow the instructions above, and only draw the required objects. 100 96 92 88 84 80 Score on economics exam 76 72 68 68 72 76 80 84 88 92 96 100 Score on chemistry exam After plotting the nal point of your multipoint curve, press the Esc key on your keyboard to end the line.