Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer the following and make sure to make 2 PPCs for a e. A mayor who lost an election and retired * * *Micro

please answer the following and make sure to make 2 PPCs for a

image text in transcribed
e. A mayor who lost an election and retired * * *Micro Review*** 9. Guam can produce 24,000 apples or 48,000 calculators in a year with 10,000 workers. The United States can produce 90,000 apples or 30,000 calculators in a year with 10,000 workers. a. Assume that these are the only two products these countries produce and that there is no specialization. Draw a PPF for each country 2 pt b. Which country has an absolute advantage in the production of apples? Explain. 1 point c. Which country has an absolute advantage in the production of calculators? Explain 1 point d. Which country has a comparative advantage in the production of calculators? Explain. 2 points e. What would be an acceptable rate of trade that benefits both countries? Explain. 1 point

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

Step: 3

blur-text-image

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

The Routledge To Global Political Economy Conversations And Inquiries

Authors: Ernesto Vivares

1st Edition

1351064525, 9781351064521

More Books

Students also viewed these Economics questions

Question

please dont use chat gpt 4 2 4 . .

Answered: 1 week ago

Question

State the uses of job description.

Answered: 1 week ago

Question

Explain in detail the different methods of performance appraisal .

Answered: 1 week ago