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You have exams in econornics and chemistry coming up and 5 hours avaiable for studying. The following table shows the trade-olis you face in allocating
You have exams in econornics and chemistry coming up and 5 hours avaiable for studying. The following table shows the trade-olis you face in allocating the time you will spend in studying each subject. Use the mulhpoint curve drawing tood to pist a prodoction possbities tronter thowing the trade-ofl between your economics grade and themibry grade. Pot al choices A thoogh F. Property label this curve. Carelufly falow the inarircions above, and only diaw the requined objects. H you ate at point C. what is the opportunity cost of increasing your chemiaty soore by studying one addhionsi hour for the charristry exam? Sewer pointa con your economics ecam. After ploting one thal point of your mumpoint eure, press the fixe aty ar use a kovg on on the last point b thd the ing: Who has the comparative advantage in producing wine and who has the comparative advantage in producing cheeso? A. France has a comparasive advantage producing cheese and Germany has a comparative advantage producing wine. B. France has a comparative advantage producing wine and Germany has a comparative advantage producing cheese. C. Neither has a comparative advartage producing wine or cheese. D. Germany has a comparaive advantage producing wine and cheese, E. France has a comparative advantage producing wine and cheese. Suppose that France is currenty produding 1 botte of wine and 6 pounds of cheese and Germany is curently producing 3 botbes of wine and 10 pounds of cheese. Then, assume instead itat France and Germany specialize by producing caly the good for which they have a comparative advantage and then trade 3 bottes of whe for 9 pounds of cheese. Atter specialication and trade, France gains by consuming the same amount of wine and add tional pound(s) of cheese (enter a numene response using an integer) and Cemary gains by consuring the same amount of wine and addibonal pound(s) of cheese
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