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Question 6 (10 points} Opportunity Costs (Unit 2) During the summer, Anna works as a tutor for both math and biology. During any given hour,
Question 6 (10 points} Opportunity Costs (Unit 2) During the summer, Anna works as a tutor for both math and biology. During any given hour, she can tutor 25 math students, 24 biology students, or some combination of the two What is Anna's cost of tutoring 19 math students? (Le. her opportunity cost} Round your answer to two (2) decimal places, and include units of "math students" or "biology students", e.g. "31.62 math students" or "15.71 biology students" Your Answer: Answer units D Add attachments to support your work Question 7 (10 points) Opportunity Costs (Unit 2) Zambia and Nicaragua produce shoes and copper according to the following table: Shoes (millions) Copper (millions) Zambia I 20 30 Nicaragua :2 6 2 What is Zambia's cost of making 25 units of copper? (Le. its opportunity cost) Round your answer to two (2) decimal places, and include units of "shoes" or "copper", e.g. "31.62 shoes" or "15.71 copper" Your Answer: Answer units Question 8 (10 points) Ricardian Trade (Unit 2) Latvia and Norway produce steel and grain according to the following table Steel (millions) Grain (millions) Latvia 10 9 Norway 30 50 Based on this table, we can say that (Norway/Latvia) has the comparative advantage in Steel, while A/ (Norway/Latvia) has the comparative advantage in Grain. Furthermore, (Norway/Latvia) has an absolute advantage in Grain, while (Norway/Latvia) has an absolute advantage in Steel Question 9 (10 points) Ricardian Trade (Unit 2) The Fictional Republic of Zinlandia and Portugal can produce Hibbejawabitz and broccoli as shown below Hibbejawabitz Broccoli Zinlandia 10 56 Portugal 11 88 Based on this table, we can say that A/ (Zinlandia/Portugal) has an absolute advantage in Hibbejawabitz, and (Zinlandia/Portugal) has the comparative advantage in Hibbejawabitz. Furthermore, (Zinlandia/Portugal) has an absolute advantage in broccoli, while (Zinlandia/Portugal) has the comparative advantage in broccoliQuestion 10 (10 points) Ricardian Trade (Unit 2) Hong Kong and Brunei can produce balloons and sailboats as shown below Balloons Sailboats Hong Kong 24 16 Brunei 30 24 Based on this table, we can say that A/ (Hong Kong/Brunei) has an absolute advantage in sailboats, and A (Hong Kong/Brunei) has the comparative advantage in sailboats. Furthermore, A/ (Hong Kong/Brunei) has an absolute advantage in balloons, while A/ (Hong Kong/Brunei) has the comparative advantage in balloons
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