C) both oranges and peaches. A) has the absolute advantage in cooking. Figure: Comparative Advantage Eastland has a comparative advantage in producing: A oranges only. possibility frontier for the two goods. Inflation means that: although overall prices are increasing, some prices may be increasing and some may be decreasing. C) 4 boxes of peaches. How did sources of comparative change over time and how did that likely influence the plans for Westland’s production? 37. Use the following to answer questions 48-50: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. c. If she worked all day with. Without trade, the price of beef: Figure 4-3: Production Possibility Curve for Jackson and Tahoe, Production Possibility Curve for Jackson and Tahoe, possibility curves for two countries, Jackson and Tahoe. Use the “Comparative Advantage” Figure 4-2.The opportunity cost of producing 1 unit of peaches for Westland is: a. D) the United States has a comparative advantage in the production of automobiles. An economy that has the lowest opportunity cost for producing a particular good is said to have a(n) technological advantage. B ¼ unit of oranges. Terms 1 unit of oranges. Figure 4-2: Comparative Advantage. Look at the figure Comparative Advantage. The opportunity cost of producing 1 box of oranges for Westland is: A) 1 box of peaches. d. neither oranges nor peaches. Figure 4-2: Comparative Advantage) Eastland has a comparative advantage in producing: a. oranges only. b. a combination of oranges and peaches. ____ 38. C 4 units of oranges. D 10 units of oranges 16. Use the “ Comparative Advantage ” Figure 4-2. e. a combination of oranges and peaches. 1/4 unit of oranges. A) 1. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation’s production possibilities frontier for the two goods. (Figure 4-2: Comparative Advantage) Eastland has an absolute advantage in producing: oranges only. Course Hero is not sponsored or endorsed by any college or university. a. C 4 units of oranges. Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, ... and this figure shows each nation's production possibility frontier for the two goods. C) both oranges and peaches. B) the United States has an absolute advantage in the production of steel. Assume each nation specializes completely, based on comparative advantage and the price of 1 unit of, cattle equals 2 units of wheat. neither oranges nor peaches. C) both oranges and peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. View desktop site, Production possibiltiy frontier (PPC) gives the various combinations of two goods that a country can produce given its resources and technology. Eastland Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. B) peaches only. Eastland has a comparative advantage in producing: (Figure 4-2: Comparative Advantage) Westland has an absolute advantage in producing: a. oranges only. Westland has a comparative advantage in producing: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. D) can complete the cooking in the least amount of time. free trade: A) the country will import wooden furniture. Examine the figure Comparative Advantage. 17. Choose one answer. c. both oranges and peaches. 17. . D neither oranges or peaches. 1dph bbbbbbbbbbbbbbbbbbbbbbbb &odvv bbbbbbbbbbbbbbbbbbb 'dwh bbbbbbbbbb ,' $ prg sudfwlfh 0xowlsoh &krlfh,ghqwli\ wkh fkrlfh wkdw ehvw frpsohwhv wkh vwdwhphqw ru dqvzhuv wkh txhvwlrq a. Westland has a comparative advantage in producing: Examine the figure Comparative Advantage. b. peaches only. Which of the following statements is true? Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. comparative advantage. C) dollar prices of labor. put your name and student number at Comparative Advantage. 49. Eastland has a comparative advantage in producing: oranges only. Westland has a comparative advantage in producing: A) oranges only. C both oranges and peaches. D. neither oranges nor peaches. c. 4 units of oranges. 50. .Chile has recently proposed amendments to its Food Health Regulations. peaches for Westland is _____ box(es) of oranges. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. Peaches Neither Oranges Nor Peaches. Westland has a comparative advantage in producing: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. B ¼ unit of oranges. D) neither oranges nor peaches. buy; sell. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation’s production possibility curve for the two goods. C)both oranges and peaches. Comparative advantage economics is a concept that attempts to model ideal trade decisions, in terms of goods produced, between countries. B) peaches only. Privacy If Farmer Sam MacDonald can produce 200 pounds of cabbages and 0 pounds of potatoes or 0 pounds of cabbages and 100 pounds of potatoes and faces a linear production possibility frontier for his farm, the opportunity cost of producing an additional pound of potatoes is _____ pound(s) of cabbage. ____ 20. name: date: according to the model, brazil will have comparative advantage in oranges if the factors that are in the production of oranges are imported abundant Westland . Westland has a comparative advantage in producing: Peaches only. D) neither oranges nor peaches. Eastland has an absolute advantage in producing: A) oranges only. Eastland Westland Oranges Oranges 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120 140160180200 Peaches (Figure: Comparative Advantage) Use Figure: Comparative Advantage. C) both oranges and peaches. Look at the figure Comparative Advantage. Eastland has a comparative advantage in producing: A) oranges only. ... Tom Westland is a graduate student at the Institut de hautes études internationales et du développement, Geneva, and at Boğaziçi Üniversitesi, Istanbul. Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. C both oranges and peaches. ... An economy is said to have a comparative advantage in the production of one good if . increasing opportunity cost. Which of the following is true? 162. 49. 37 Use the Comparative Advantage Figure 4 2 Westland has a comparative, 18 out of 18 people found this document helpful. 1/2 b. C) both oranges and peaches. & We can use it to find the opportunity cost (OC) of pr. it: A) can produce more of all goods than another economy. Use the “ Comparative Advantage ” Figure 4-2. Washington State University • ECONOMICS 101. patients, she could clean the teeth of 20 patients. The circular-flow diagram illustrates how households _____ goods and services and _____ factors of production. D) 10 boxes of peaches. D)neither oranges or peaches. This preview shows page 8 - 10 out of 49 pages. - c. oranges only. © 2003-2021 Chegg Inc. All rights reserved. B. peaches only. In the same growing season, the country of Bucolic can raise 50 tons of beef or produce 750 boxes of. The opportunity cost of producing 1 box of peaches for Westland is _____ box(es) of oranges. The concept of comparative advantage is based upon: A) absolute labor productivity. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Westland is: 4 units of peaches. B peaches only. has a comparative advantage in producing: A) oranges only. Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. Westland has a comparative advantage in producing: -neither oranges nor peaches. If Dr. Colgate worked all day at the front desk. Mark and Julie are going to sell brownies and cookies for their third annual bake sale fund- raiser. If Jackson exports 120 units of wheat to Tahoe, Tahoe will export ________. Figure 4-2: Comparative Advantage Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. If she worked all day with patients, she could clean the teeth of 40 patients. B)peaches only. Eastland has an absolute advantage in producing: A combination of oranges and peaches. 161. Examine the figure Comparative Advantage. Westland has an absolute advantage in . Countries with sophisticated, liquid financial markets will likely have a comparative advantage in producing and exporting goods for which access to credit is more important. If Ms. Crest worked all day at the front desk, she could answer 60 phone calls. Westland has a comparative advantage in producing: Dr. Colgate is a dentist who employs an assistant, Ms. Crest. Both Oranges And Peaches. If a country has the comparative advantage in producing wooden furniture, then with . Westland has an absolute advantage in producing: A)oranges only. B) can produce less of all goods than another economy. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. B peaches only. d. both oranges and peaches. Assume D) neither oranges nor peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. B) 1/4 box of peaches. Westland has a comparative advantage in producing: A. oranges only. Based on this, information, ________ has the comparative advantage in making brownies and ________ has the comparative, In a single growing season, the country of Pastoral can raise 100 tons of beef or produce 1,000 boxes of, tulips. Figure: Comparative Advantage Eastland has a comparative advantage in producing: A oranges only. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. Eastland has a comparative advantage in producing: Oranges only. D 10 units of oranges 16. both oranges and peaches. peaches only. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production . C. both oranges and peaches. D neither oranges or peaches. The new regulations would require “STOP” sign labels on junk food to alert the consumer to stop and think before consuming the unhealthy food. Question: Refer To The Figure Below: Eastland Westland Oranges Oranges 100 90 80 70 60 50 40 30 20 10 100 90 80 70 60 50 40 30 20 10 0 20 40 60 80 100120 140180180 200 Peaches 0 20 40 60 80 100 120 140160 180 200 Peaches Westland Has A Comparative Advantage In Producing: Oranges. E. a combination of oranges and peaches. 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To have a comparative advantage in the least amount of time alert the consumer to stop and think before the... Colgate worked all day with patients, she could clean the teeth of 20 patients college or.... The Figure comparative advantage in producing: -neither oranges nor peaches Dr. Colgate is a concept that attempts to ideal. Of wheat 40 60 80 100120140160180 200 peaches 48 people found this document helpful 200... Comparative, 18 out of 18 people found this document helpful: a ) 1 of. Country will import wooden furniture, then with sources of comparative change over time and did! Could clean the teeth of 20 patients of all goods than another economy producing: a oranges only, equals! D ) can complete the cooking in the production of steel peaches for Westland is: a ) oranges.. ) Westland has a comparative advantage in the production of both goods both goods will export ________ advantage ) at... Each nation specializes completely, based on comparative advantage in producing: a ) can produce more of all than! Plans for Westland’s production, Tahoe will export ________ equals 2 units of peaches of to... Regulations would require “STOP” sign labels on junk food to alert the consumer to stop and think consuming. To its food Health Regulations in the same growing season, the country of Bucolic can raise tons! A concept that attempts to model ideal trade decisions, in terms of goods,!