Question
I am sending this question five times now and still i didn't get my question answered yet. I have just partially my questions answered. I
I am sending this question five times now and still i didn't get my question answered yet. I have just partially my questions answered. I need answers from F to letter O. And then I need from there to end those three questions answered which I have bolded down here. Thank you
The table below shows five possible combinations of mana and duds production beta has using 100 workers and the other resources used to produce these goods as efficiently as possible, given the available land, factories, and other resources in beta.
Products
mana 400 300 200 100 0
duds 0 400 800 1200 1600
The table below shows five possible combinations of mana and duds production zoid has using 100 workers and the other resources used to produce these goods as efficiently as possible, given the available land, factories, and other resources in zoid. products
mana 200 150 100 50 0
duds 0 100 200 300 400
Please use the production data in the two previous tables to create a ppf/ppc for beta and one for zoid.
Things went on this way for some time, until an economist visiting from planet ricard held a press conference to say that she knew how the countries could get more mana and more duds without using any more resources. Can you see how beta and zoid can both get more mana and duds to consume?
Products beta zoid world
mana
duds
Worlds production of beta and zoid
If beta specialized in duds and zoid specialized in mana
Products beta zoid world
mana
duds
Remember that in one day, one worker in beta could produce either 4 units of mana or 16 units of duds. In zoid one worker could produce either 2 units of mana or 4 units of duds. Use this information to complete the following statements.
A. In Beta, when one more worker starts producing duds, the production of duds goes up by ( ) units and the production of mana goes down by () units.
B. The people of Beta give up 4 units of mana to get 16 more units of duds. How many units of mana do they give up to get 1 more unit of duds? ()
C. This means that the real const of 1 unit of duds in Beta is ( ) units of mana.
D. In Beta, when one more worker starts producing mana, the production of mana goes up by ( ) units and the production of duds goes down by ().
E. The people of Beta give up 16 units of duds to get 4 units of mana. How many units of duds do they give up to get one more unit of mana? ( ).
F. This means the real const of 1 units of mana In Beta is ( ) units of duds. G. InZoid when one more worker starts producing duds, the production of duds goes up by ( ) units and the production of mana goes down by ( ) units. H. The people of zoid give up 2 units of mana to get 4 more units of duds. How many units of mana do they give up to get 1 more unit of duds? ( ). I. This means that the real const of 1 unit od duds in Zoid is ( ) unit of mana. J. InZoid, when one more worker starts producing mana, the production of mana goes up by ( ) units and the production of duds goes down by ( ) units. K. The people of Zoid give up 4 units of duds to get 2 more units of mana. How many units of duds do they give up to get 1 more unit of mana ( )? L. This means that the real cost of 1 unit of mana in Zoid is 2 units of duds. M. In which country is the real cost of producing one unit of duds lower? ( ) N. In which country is the real const of producing one unit of duds lower? ( ) O. How can the countries use this information so that both countries get more mana and more duds to consume?
Now that you have determined opportunity costs and therefore which country specialize in which product, please answer these items:
Suppose that Beta and Zoid agree to trade 1 units of mana for 3 units of duds, and Zoid agrees to sell Beta 125 units of mana. How many units of mana and duds will beta have after trading? How many units of mana and duds will Zoid have after trading? Who gained from trade, and how do you know this to be true, (i.e., how do each countrys level of mana and duds compare to pre-specialization and trading levels?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
If a country has comparative advantage in production of a good then the country has lower opportunit...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started