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Consider: The maximum production possible in Rome and in Cathay are as follows, ROME 40 BREAD OR 20 FIGS CATHAY 20 BREAD OR 40 FIGS If each country specializes in the production of what it does best and trades with the other, what is the combined output? Select one: O a. 30 bread and 30 figs. 0 b. 60 bread and 60 figs. 0 c. 20 bread and 20 figs. 0 d. 40 bread and 40 figs. Suppose a small Island nation imports sugar for its population at the world price of $1,500 per ton, The domestic market for sugar Is shown below 2500 2000 1500 5 - World price Price (5/ton) 1000 Domestic price with subsidy 500 12 16 20 Quantity (tons/day) If the government provides a subsidy of $500 per ton, then the cost of subsidy, which must be borne by taxpayers, will be per day.4 Using the data in GPA3.RAW, the following equation was estimated for the fall and second semester students: trmgpa = -2.12 + .900 ersgpa + .193 cumgpa + .0014 tothrs (.55) (.175) (.064) (.0012) [.55] [.166] [.074] [.0012] + .0018 sat - .0039 hsperc + .351 female - .157 season (.0002) (.0018) (.085) (.098) [.0002] [.0019] [.079] [.080] n = 269, R2 = .465. Here, trmgpa is term GPA, crsgpa is a weighted average of overall GPA in courses taken, cumgpa is GPA prior to the current semester, tothes is total credit hours prior to the semester, sat is SAT score, hsperc is graduating percentile in high school class, female is a gender dummy, and season is a dummy variable equal to unity if the student's sport is in season during the fall. The usual and heteroskedasticity-robust standard errors are reported in parentheses and brackets, respectively